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2024 (3) TMI 709 - AT - Income TaxAddition u/s 68 - unexplained sundry creditors - as before NFAC, no reply has been filed - NFAC observed that ld. AO has passed speaking order with detailed discussion on the issue involved therein and the assessee has not pursued the appeal before NFAC - HELD THAT:- Admittedly, there was no response from the assessee before NFAC. As such, NFAC has confirmed the order of the ld. AO. Before us, ld. A.R. submitted that these are trade creditors emanated from the purchases made by assessee in the assessment year under consideration. Once the department has accepted the purchases as genuine, the other limb of the same transaction being a trade creditors cannot be doubted or no addition could be made on this count. In our opinion, at this stage, we are not in a position to decide the appeal on merit as the NFAC/CIT(A) has not gone in to the merit of the issues raised by the assessee before it. Being so, in our opinion, it is appropriate to remit the entire issue in dispute to the file of NFAC/CIT(A) to decide the same after giving opportunity of hearing to the assessee. Appeal of the assessee is partly allowed for statistical purposes.
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