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2017 (9) TMI 663 - AT - Income TaxReopening of assessment - Addition u/s. 68 - Investigation made by the Investigation Wing of the Department to conclude that nothing but a sham transaction of accommodation entry - Held that:- As the assessee remain non-cooperative before the AO and did not file requisite documents before the AO, thus the entry remains unexplained in the hands of the assessee and also no independent inquiry has been undertaken by the AO in the instant case and AO has mainly relied upon the Investigation Wing Report. Therefore, in the interest of justice, we think it proper to set aside the issue in dispute to the file of the AO to decide the same afresh, after making independent inquiry and verification, as deem fit. However, the Assessee is also directed to submit all the necessary documents, as asked by the AO during the assessment proceedings and fully cooperate with the AO and did not take any unnecessary adjournment. Accordingly, the issue in dispute is set aside to the file of the AO with the aforesaid directions. Appeal filed by the Revenue stands allowed for statistical purposes.
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