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2019 (4) TMI 559 - ITAT DELHIAddition of 'on money' for the sale of the property u/s 69 - addition based on documents and material and cash found during the search of the seller of the property - Denial of cross examination - principles of natural justice - valuation of property - HELD THAT:- From the perusal of the Assessment Record before us it can be seen that on the note sheet of 02.07.2007 there is no mention as to cross examination of the seller. Thus, there is no opportunity given to the assessee for cross examination of the seller. From the summary of the findings of the Assessing Officer it can be seen that the total money paid by buyer in cash which was found in the lockers was on the estimated basis. But no verifications were done by the Assessing Officer as relates to the slips of the PNB bank found in the locker. The Assessing Officer has also not specified particular activities carried out by the vendors for earning income. Instead has given a general finding that the vendors were engaged in numerous activities. No valuation of the property was done by the AO to arrive at the proper findings. Thus, it will be appropriate to remand back these issues to the file of the Assessing Officer for verification as well as allow the assessee to cross examine the sellers. Thus, we are accepting the submissions of the Ld. AR to remand back these matters to the file of the Assessing Officer. Needless to say, the assessee be given opportunity of hearing by following principles of natural justice. Appeal allowed for statistical purpose.
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