Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2018 (3) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (3) TMI 212 - AT - Income TaxReopening of assessment - assessee as the beneficiary of accommodation entries - addition u/s 68 - Held that:- It is an admitted fact that when the matter was restored by the Tribunal to the file of the Assessing Officer with a direction to adjudicate the issue afresh by making further enquiries to find out the genuineness of the gift, creditworthiness of the donor, source of money for the pay order and to ascertain the relationship between the assessee and the donor and the occasion and purpose of gift, the assessee did not fulfill all the above direction of the Tribunal and only partially fulfilled. Even during the remand proceedings also despite opportunity given, the assessee failed to comply with the direction of the Tribunal. It is the submission of the assessee that due to his old age, he could not contact the donor at the relevant time and obtain necessary details for the examination of the Assessing Officer. Also if given an opportunity he will produce the donor along with relevant details since he is now in a position to produce him. Considering all it proper to restore the issue to the file of the Assessing Officer with a direction to give one final opportunity to the assessee to substantiate with evidence to his satisfaction regarding the identity and creditworthiness of the donor and genuineness of the transactions and the other direction as given by the Tribunal in the earlier order - Decided in favour of assessee for statistical purposes.
|