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2020 (9) TMI 495 - HC - Income TaxUnexplained cash credits in bank accounts - HELD THAT:- From perusal of the order passed by the Income Tax Appellate Tribunal, we find that the Tribunal has not decided the issue on merits and ought to have adjudicated the issue with regard to unexplained credits to the tune of ₹ 50,00,000/- and ₹ 65,10,000/-. Tribunal has held that orders of reassessment have been rendered infructuous. The issue with regard to unexplained credits to the tune of ₹ 50,00,000/- and ₹ 65,10,000/- needs to be adjudicated. The Tribunal erred in not adjudicating the issues on merits and therefore, we answer the first substantial question of law in favour of the revenue. Therefore, it is not necessary to answer the second substantial question of law. In the result, the impugned order dated 21.12.2012 passed by the Income Tax Appellate Tribunal is hereby quashed and the matter is remitted to Commissioner of Income Tax (Appeals) to determine the issue afresh with regard to the unexplained cash credits to the tune of ₹ 50,00,000/- and ₹ 65,10,000/-.
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