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2015 (8) TMI 1457 - AT - Income TaxAddition u/s 68 - Unsecured loans - accommodation entries received - genuineness of the transactions was not proved - Held that:- Considering this Remand Report dated 22.06.2012 filed in pursuance to the directions given to re-consider the issue on merits, the CIT(A) granted relief. In the said factual background, the ld. CIT DR was unable to point out any infirmity either in procedure followed or on conclusion arrived at on these facts in the order. Admission of additional evidence considering the objections of the assessee to the first Remand Report - Held that:- Admittedly, as per the non-rebutted evidence on record, the effective hearing in the assessment proceedings started on 07.12.2011 leading to the passing of the assessment order on 29.12.2011. Thus in the absence of any evidence to the contrary the finding of the CIT(A) under challenge that “adequate and real opportunities was lacking during the assessment proceedings” is upheld. The Ground No.-2 of the Revenue accordingly is dismissed. In the present case, admittedly the Assessing Officer, consciously and carefully after due and proper enquiry carried out by issuance of notices u/s 133(6) to the concerned persons/parties and considering the material comes to the conclusion that he is satisfied by the claim of the assessee on verification, then in such a situation the filing of the present appeals cannot be justified and can only be termed as a farce. - decided against revenue
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