Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2015 (10) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (10) TMI 805 - ITAT CHENNAIAddition u/s 68 - non grant of sufficient opportunity to the assessee to file confirmation letters - Held that:- As in the present case, a perusal of the records shows that the Assessing Officer had granted five hearing opportunities to the assessee. The assessee had provided the addresses of creditors as available in his records. It is not the case of Revenue that the assessee has not cooperated or is negligent in prosecuting his case. It is a case where the assessee could not get confirmation letters in time from creditors. It is alleged that the first appellate authority has not granted sufficient opportunity to the assessee to file confirmation letters. Thus, the case law on which the learned Departmental representative has placed reliance are distinguishable on facts itself. Be that as it may, now the assessee has placed on record confirmation letters from the creditors. We are of considered opinion that in order to verify the genuineness of confirmation letters, the matter needs a revisit to the Assessing Officer. Accordingly, we remit the issue back to the file of the Assessing Officer to decide the issue afresh after verifying the veracity of the confirmation letters and considering the opening balance of the creditors. - Decided in favour of assessee for statistical purpose.
|