Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2018 (4) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (4) TMI 1714 - HC - Income TaxAddition u/s 68 - Addition as identity of the applicants remained unverified and the assessee could not give reply in this regard - Amount received towards the share applications was by way of cheque - HELD THAT:- All the details regarding applicants were furnished by the assessee and Department could have issued notices to such applicants. Hence, there was no need for the Assessing Officer to make addition. It appears that before the CIT (Appeals) also such prayer could have been made by the Department for issuance of Notices upon share applicants. No such application was preferred before C.I.T. (Appeals) by this appellant. Hence, we see no reason at this stage to remand the matter to the Assessing Officer for further verification of share applications. Similar type of cases are coming to this court often and most of the time sametype of error is committed by the Assessing Officers, either deliberately or due to “induced ignorance”. This is not the first time such type of matter has been taken up by this Court Commissioner, Income Tax to have orientation courses or induction courses conducted for the Assessing Officers to make them understand that whenever assessee receives any amount by cheque, there is a need for the Assessing Officer to give notice to the drawers of those cheques. There is no substance in this Tax Appeal as no error has been committed by the Income Tax Appellate Tribunal and the Commissioner of Income Tax - No substantial question of law involved in this Tax Appeal, this Tax Appeal is, hereby, dismissed.
|