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2015 (1) TMI 782 - AT - Income TaxRe-assessment - addition u/s 68 - CIT(A) deleted the addition - Held that:- Assessee had placed on record confirmations, income tax returns, bank-statements and share-application forms from each of the share-holders. Summons issued to them, have also been responded to, confirming the investment. However, we find that AO made no further enquiry to discredit the claim of the assessee in this respect. Admittedly,the prior-enquiry made by the investigation wing which triggered the re-assessment, has been made behind the back of the assessee, which does not justify the inference of the AO. - Decided in favour of assessee.
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