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2022 (3) TMI 62 - AT - Income TaxAddition u/s 68 - Addition made by AO and further confirmed by the CIT(A), only because of the non-appearance of the director of the assessee-company - HELD THAT:- There is no rebuttal by the Ld. DR regarding the submissions of the assessee that the required evidences and details furnished by the assessee have not been thoroughly examined by the Assessing Officer before arriving at a conclusion that the transactions were not genuine. Interest of justice will be well-served if the matter is restored to the file of Assessing Officer to examine the issue afresh and make proper enquiries and investigations duly considering the evidences and details furnished by the assessee. The director/directors of the assessee-company shall make themselves available before the Assessing Officer, if so required by the Assessing Officer, relating to any queries in relation to the aforesaid transactions. With the above directions, the matter is restored to the file of the Assessing Officer for de novo assessment. Appeal of the assessee is treated as allowed for statistical purposes.
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