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2019 (1) TMI 639 - AT - Income TaxReopening of assessee - Held that:- Assessee has received ₹ 4,60,01,150/- as per MOU dated 1.12.2007 from NRI Ashok Sarin to start business. MOU dated 1.12.2007 has not been filed before the AO for verification and was only filed before the CIT(A). After perusing the finding of the CIT(A), CIT(A) has quashed the assessment and reduced the demand to NIL by passing a non-speaking order without verifying the assessment records. We are also of the view that this MOU dated 1.12.2007 which was filed before the Ld. CIT(A) has not been confronted to the AO for verification. As per the assessment record, assessee has also not appeared before the AO. We are of the view that impugned order is not sustainable in the eyes of law and the issue involved in the present appeal requires re-adjudication at the level of the AO for verification of the MOU dated 1.12.2007. Hence, we are directing the AO to verify the same and decide the issue in dispute afresh, under the law, after giving adequate opportunity of being heard to the assessee for substantiating the issue before the AO. - Appeal filed by the Revenue stands allowed for statistical purposes.
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