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2021 (7) TMI 617 - AT - Income TaxAddition u/s 68 - unexplained cash credit - HELD THAT:- Neither the assessee nor Shri. S. Prasanth has explained the impugned credits neither before the AO nor before the appellate authority as required u/s. 68 of the Act. However, considering the totality of the facts and circumstances, we are of the view that the issues in this appeal are to be remitted back to the AO for a fresh examination. The assessee/Shri. S. Prasanth, as the case may be, shall place all material based on which they rely in support of their contentions before the AO and comply with requirements of the AO in accordance with the law. AO after affording adequate opportunity to the assessee/Shri. S. Prasanth, as the case may be, and after considering the material etc placed before him shall pass an order in accordance with law. Assessee's appeal is treated as partly allowed for statistical purposes.
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