Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2015 (10) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (10) TMI 919 - AT - Income TaxAddition of cash credits - assessee failed to produce any confirmation letters from the farmers regarding creditworthiness and genuineness - Held that:- We find that in spite of readiness of the assessee to produce persons who wanted to purchase the agricultural lands, the AO had not examined the persons. The CIT(A) passed the appellate order ex-parte and did not go through the accounts where some of the repayments were through cheques and details of the bank statements filed before him. In these circumstances, we deem it fit to restore the matter to the file of the Assessing Officer who shall examine the evidences filed with respect to the repayments to the buyers as the sale transactions did not fructify and after going through the bank statements and examining the persons, if necessary, decide the issue in accordance with law. - Decided in favour of assessee for statistical purposes.
|