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2017 (11) TMI 507 - AT - Income TaxUndisclosed income on account of bogus share transaction - addition on account of commission on such undisclosed income - AO has recorded in his finding that assessee has not furnished the report under Form 10DB in support of Security Transaction Tax - as per assessee no independent investigation was carried out by AO before making addition - Held that:- Assessing Officer has passed the assessment order without giving any finding on the submission and documentary evidences furnished by assessee. The Assessing Officer has relied upon the statement of Mukesh Choksi. No opportunity of cross-examination was provided to the assessee nor was the copy of statement given to assessee on which the Assessing Officer relied. Considering the decision of Hon’ble Apex Court in case of ITO vs. M. Pirai Choodi (2010 (11) TMI 26 - Supreme Court of India), we deem it appropriate to restore the ground no. 5,6 &7 to the file of Assessing Officer to decide the same afresh in accordance with law. Appeal filed by the assessee is allowed for statistical purpose
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