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2017 (4) TMI 52 - AT - Income TaxAddition u/s 69 - source of investment made by the assessee in respect of purchase of the property - Held that:- In this case, the alleged party Sri Nallamilli Veerabhaskara Reddy is a crucial party, the Assessing Officer ought to have given opportunity to the assessee to produce before him. Such an opportunity has not been given to the assessee. Even the Assessing Officer has examined the document writer Sri J. Sadashiva Reddy and no opportunity was given to the assessee to cross examination him. Therefore,find that the Assessing Officer has made an enquiry behind back of the assessee without following proper procedure and without giving proper opportunity to substantiate his case and to prove the source of investment. Assessing Officer has committed gross violation in coming to the conclusion that the investment made by the assessee is not a genuine transaction. Under these facts and circumstances of the case, find that the addition made by the Assessing Officer under section 69 cannot be sustained. Insofar as, the claim of savings of ₹ 2,28,000/- is concerned, the Commissioner of Income Tax (Appeals) has already given relief of ₹ 1.5 lakhs, hence, find that the order passed by the Commissioner of Income Tax (Appeals) is justified and no interfere is called for. In view of the above, appeal filed by the assessee is partly allowed.
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