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2022 (7) TMI 1269 - HC - Income TaxAddition u/s 68 - genuineness of transaction, creditworthiness of the company, nature and source of such sum so credited to the assessee’s account not provided - Tribunal justification on upholding the deletion - HELD THAT:- True nature of a transaction has to be ascertained in the light of the surrounding circumstances and by applying the test of human probabilities. On going through the order passed by the Tribunal, we find that no independent finding has been recorded by the Tribunal as to how the Tribunal was satisfied that the findings recorded by the CIT(A) do not call for any interference. There is nothing on record to indicate that any concession was permitted by the revenue to be made before the Tribunal. Considering the fact that the revenue has been contesting the matter, in our view, the learned Tribunal being the last fact finding authority, in the fitness of things, should record reasons to support its conclusion. Since we find such course having not been adopted by the learned Tribunal, we are inclined to interfere with the order passed by the learned Tribunal and remand the matter back to the learned Tribunal for fresh consideration.
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