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2018 (5) TMI 1694 - AT - Income TaxValidity of reopening of the assessment - assessee did not declare and disclose any business transactions of purchase or sale of properties - Held that:- Documents found by revealed the transactions of purchase and sale of the properties and the name of the assessee is found mentioned against the land dealing transactions - since these material were also not disclosed in the return of income of assessee which it certainly constitute a reason to believe that an income assessable to tax in the hands of the assessee has escaped assessment - thus there is no error or illegality in the reopening of the assessment - Decided against the assessee. Additions made by the AO based on the impounded material and statement of Shri Rajesh Tambi recorded u/s 131 - Held that:- In view of the decision of M/s Andaman Timber Industries vs CCE (2015 (10) TMI 442 - SUPREME COURT) it is held that since the assessee did not specifically demand the cross examination of Shri Rajesh Tambi (director of the company) during the assessment proceedings, therefore the matter is set aside to give an opportunity to the assessee to cross examine Shri Rajesh Tambi and then adjudicate the issue of addition made by the AO - allowed for statistical purposes
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