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2017 (5) TMI 1208 - AT - Income TaxUnexplained cash credit addition u/s 68 - Held that:- Neither the AO nor the ld. CIT(A) appreciated the facts in right perspective and did not make the further inquiry from those persons who furnished the confirmations and affidavits stating therein that the impugned amount was given to the assessee and the said amount was received by them from different customers from whom booking amount for plots/flats had been collected. We, therefore, considering the totality of the facts deem it appropriate to set aside this issue back to the file of the AO to be adjudicated afresh in accordance with law after providing due and reasonable opportunity of being heard to the assessee. - Decided in favour of assessee for statistical purposes.
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