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2016 (4) TMI 504 - AT - Income TaxAddition u/s 68 - Held that:- As find from the order of the ld CIT(A) that as regards to the identity, even permanent account number (PAN) or was balance sheet etc of the assessee were not provided. As regards to genuiness of the transaction, the same was in doubt from the observation of the AO that cash used to be withdrawn after deposit of cheque by the assessee. We find that no documents have been submitted by the assessee in support of the creditworthiness of the creditor. According to us the assessee has failed to discharge its Burdon of proof for requirement of section 68 of the Act regarding the creditor. In view of the facts and circumstances, we are of the opinion that in the interest of justice, the assessee should be provided one more opportunity to discharge its burden of proof in respect of the creditor. Accordingly, we restore the matter to the file of the Assessing Officer for deciding the issue afresh in accordance to law. - Decided in favour of assessee for statistical purpose.
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