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2015 (11) TMI 1433 - AT - Income TaxUnaccounted form of land development expenses and excess cash in proceedings under section 143(3) - Held that:- Both the authorities below have strongly relied upon survey statement of assessee’s partner Shri Nitin Kopikar whilst making the impugned additions totaling to ₹ 26.23 lacs. There is no supportive material quoted either in the course of assessment or in lower appellate order. The latter order runs into 19th full fledged pages out of which pages 5 to 19 highlight lacks of evidence, any incriminating material, survey statement being obtained in coercion etc. The CIT(A) brushes all of them aside by a single stroke without adverting to the same. We opine in this factual backdrop that the lower appellant order is not a detailed and speaking one with reasons thereof. Coming to the Revenue’s submissions placing a strong reliance upon the tribunal’s decision in the connected group case, we notice that the said assessee had failed to produce the original retraction affidavit (supra) therein which led an adverse inference. The instant appeal does not raise any such issue. We feel in these peculiar circumstances that once the CIT(A) has not taken into account all of the assessee’s argument in affirming the Assessing Officer’s action making the impugned additions, the matter deserves another innings in lower appellant proceedings.The Ld. CIT(A) shall pass a detailed speaking order. - Decided in favour of assessee for statistical purpose.
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