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2019 (6) TMI 1706 - ITAT CHENNAILoan creditors treated bogus and fictitious transaction - neither the assessee nor the AR filed any written submission before the CIT(A), based on the material available on record CIT(A) dismissed the appeal - Since, assessee pleads that the non appearance before the CIT(A) was in connection with his preoccupation with the fire happened in his office and the impugned transactions happened through proper banking channels which could be proved before the lower authorities, if due opportunity is given to him which would result in a meritorious decision etc. - HELD THAT:- We deem it fit to remit this issue back to the AO for a fresh examination. The assessee shall lay all materials in its support before the AO and comply with his requirements in accordance with law - AO may conduct appropriate inquiry as deemed fit, however, he shall furnish adequate opportunity to the assessee, if any material is likely to be used against him and then, pass appropriate orders in accordance with law. In the result, the appeal filed by the assessee is allowed for statistical purpose.
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