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2015 (10) TMI 1866 - AT - Income TaxAddition on Excess Stock of Copper Scarp - Held that:- Revenue Authorities have not given any independent finding on the basis of any evidence except the documentary evidence collected by the Customs & Excise Department against which the assessee’s appeal is pending before the Custom, Excise and Service Tax Appellate Tribunal, New Delhi. In the interest of justice, we are of the view that the issue in dispute requires reconsideration/ readjudication at the level of the AO. Accordingly, we direct the AO to decide the issue in dispute afresh under the law, keeping in view of the decision of Customs, Excise & Service Tax Appellate Tribunal, New Delhi, after giving full opportunity to the assessee of being heard and to produce any evidence for substantiating its claim before the AO. We make it clear that assessee has statutory right to appeal, if so, advised, before the Competent Authority. - Decided in favour of assessee for statistical purposes.
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