Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2020 (6) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2020 (6) TMI 130 - AT - Income TaxAdditions based upon incremental difference between the balance sheet of earlier year and the current year - CIT(A) has not examined these issues in detail, and the required reconciliation is not available from the order of the Hon’ble Settlement Commission - HELD THAT:- Since the nature and source of the impugned transactions were not properly placed and explained before the A.O, we deem it fit to remit the issues back to the file of A.O for a fresh examination. The assessee shall place relevant materials in support of his contentions before the A.O. and comply with the requirements of the A.O. in accordance with law. A.O. is also free to conduct appropriate enquiry as deemed fit. On due examination and after affording effective opportunity to the assessee, the A.O. shall decide the matter on merits - Appeal of Revenue is partly allowed for statistical purposes.
|