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2018 (7) TMI 131 - AT - Income TaxAddition u/s 68 - identity of the person giving the credit has not been proved and also creditworthiness has also not been established - Held that:- Evidences which have been furnished by the assessee have not been discussed; and if the Director has not been found then it cannot be said that identity of the company is not established especially in wake of income tax records and share allotment form and other host of documents. If in the inquiry, by the ITI it was found that on the said addressee the company of the Director was not traceable, then AO should have confronted to the assessee and assessee should have been given the opportunity to produce the concerned person from the said company. CIT (A) in his order though sought for the remand report but has not given the mandate to the AO to confront the same to the assessee - Matter should be restored back to the file of the AO and assessee will ensure full corporation and produce the concerned person from the said company and or provide correct details of the said company for issuing of summon - Decided in favour of assessee for statistical purposes.
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