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2014 (3) TMI 1131 - AT - Income TaxAddition u/s 68 by treating the loan received - Held that:- The submissions of the assessee along with various evidences furnished to the Ld. CIT(A) was not appreciated in right perspective. The Ld. CIT(A) even did not consider this vital fact that an addition to the extent of ₹ 14.25 Lac was already made in the block assessment and that there was a dispute between the assessee and Johari Group to which creditors of about ₹ 1 Crore belonged and they had filed a FIR, but the Ld. CIT(A) neither considered the amount mentioned in the FIR nor amount assessed in the block assessment. CIT-A simply confirmed the addition made by the Assessing Officer on this basis that the letters issued to certain persons returned back and few of the creditors did not comply the summons. However, he ignored this contention of the assessee that new addresses of few creditors were given to whom no letter was written by the Assessing Officer. We, therefore, considering the totality of the facts, deem it appropriate to set aside this issue back to the file of Ld. CIT(A) to be adjudicated afresh - Decided in favour of assessee for statistical purposes.
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