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2023 (8) TMI 1024 - DELHI HIGH COURTAddition u/s 68 - unexplained share capital and share premium - According to the CIT(A) assessee had satisfied the triple test, i.e., i.e., established the identity, genuineness and creditworthiness of the investors, but this conclusion was reversed by the Tribunal, with a direction to the AO to make a fresh enquiry. HELD THAT:- The reversal of the CIT(A)’s order has taken place, without the Tribunal discussing as to what part of the order was unsustainable. A direction of remand has been issued, without indicating to the AO what exactly he is required to examine afresh.We are of the view that the Tribunal will have to deliberate on the matter afresh and articulate in the order its reasoning, if it chooses not to agree with the order of the CIT(A). Consequently, the impugned order is set-aside. Accordingly, the question of law is answered in favour of assessee.
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