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2022 (12) TMI 217 - AT - Income TaxBest Judgment Assessment u/s 144 - Verification of documents produced by the Assessee - HELD THAT:- AO has asked the assessee to file remaining information/details on 02/11/2018. On 02/11/2018, again a part reply has been filed. A.O. has once again asked the representative of the assessee to file remaining reply and ultimately on 20/12/2018 the representative of the assessee stated that ‘share broker is not providing any information regarding turnover/sales etc., thus it cannot be submitted”. Since the assessee has submitted his inability to produce the details and has not filed the details sought by the A.O., the Ld. A.O rightly invoked the Section 144 of the Act and passed the Best Judgment Assessment and the said action of the A.O. cannot be found fault with. Assessee has vehemently submitted that he has sent an e-mail to the A.O. comprising of 2000 pages attaching all the documents regarding turnover/sales etc of the share transaction which has not been verified by the A.O. But the said fact cannot be corroborated with any of the documents on record and even before us the assessee has not produced any such documents to verify. We are of the considered opinion that if the matter is remanded to the file of A.O. to verify the documents produced by the Assessee and passed appropriate fresh Assessment order after hearing the assessee, the substantial justice would be rendered. Accordingly, we direct the A.O. to consider the documents produced by the Assessee and pass the Assessment Order in accordance with law after hearing the Assessee. Appeal of the assessee is allowed for statistical purpose.
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