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2017 (7) TMI 200 - AT - Income TaxAdditions on account of unsecured loans - Held that:- CIT(A) has accepted the cash flow statement submitted by the assessee without considering the remand reports submitted by AO on this account. CIT(A) has not even referred to any of the above remand reports in the impugned order in spite of the fact the verification of the additional document, i.e., cash flow statement etc. was directed by him to be verified by the AO with reference to the books of accounts. We, therefore, find that the matter requires re-adjudication at the stage of ld. CIT(A). Accordingly, the order of the ld. CIT(A) deserves to be set aside and this issue is restored to his file for deciding the same afresh by way of speaking order as per law after considering all the facts and evidences available on record as well as reported by the AO Unexplained cash credits u/s. 68 - Held that:- CIT(A) supported by evidences on record as referred to by the first appellate authority, we find no justification to interfere with the deletion of this addition. The ld. DR could not be able to rebut the findings given by the CIT(A) on this issue nor is there any material available on record to discard the same.
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