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2019 (11) TMI 756 - AT - Income TaxUnexplained cash credit u/s 68 - violation of the principle of the natural justice - notices u/s 133(6) were issued by the AO at the wrong address to various share subscribers, which had returned back undelivered - HELD THAT:- In the facts of the case, we are of the opinion that whatever may be the reasons, it is evident that those parties could not respond to the notices issued u/s 133(6) and the assessee also failed to produce them before the AO. Now, before us, the assessee has given undertaking that if matter is restored back to the AO, the assessee shall produce all the share applicant parties along with all the required documents to discharge its onus of proving the identity & creditworthiness of the share applicant parties and genuineness of the transaction as required under section 68. In view of the facts and circumstances of the case and the undertaking given by the assessee, in the interest of the substantial justice, we feel it appropriate that the assessee must be provided an opportunity to produce all those share applicant parties, which the learned CIT(A) did not provide despite request on the part of the assessee. Accordingly, we restore the issue in dispute involved in the grounds of the appeal to the file of the AO for deciding afresh with the direction to the assessee to produce all the share applicant parties before the Assessing Officer along with all documentary evidences which it wants to rely upon. The assessee shall be afforded adequate opportunity of being heard. The grounds of the appeal of the assessee are accordingly allowed for the statistical purposes.
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