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2018 (11) TMI 1491 - AT - Income TaxAddition u/s 68 - Bogus long term capital gain on sale of shares - assessee was not granted opportunity to cross examine to persons on whose basis addition is made - denial of natural justice - Held that:- AO without providing any material evidence, report on which he was relying and not granting an opportunity to cross examine the persons on whose statement he arrived at certain presuppositions, made addition in the hands of assessee. Before Ld. CIT (A) assessee once again raised plea of crossexamination granted to assessee and materials not based upon which the submissions have been made has not been provided for examination. Even then opportunity was not granted to assessee, though Ld. CIT (A) had coterminous powers as that of Ld. AO. This amounts to gross violation of principles of natural Justice. - Decided against revenue
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