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2016 (1) TMI 320 - HC - Income TaxAddition made by the AO on account of surrender originally made during the survey proceedings to cover discrepancies found in cash in hand, stock and unexplained expenditure on construction of building - addition on account of low GP rate - ITAT deleted the addition - Held that:- The Tribunal being final fact finding authority was required to discuss the entire evidence before arriving at the conclusion. The order passed by the Tribunal is violative of principles of natural justice and does not satisfy the requirements of a reasoned order. Consequently, the substantial questions of law are answered accordingly. The impugned order passed by the Tribunal dated 21.11.2013, Annexure A.3 is set aside and the matter is remanded back to the Tribunal to decide it afresh after hearing learned counsel for the parties in accordance with law. - Decided in favour of revenue for statistical purposes.
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