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2021 (7) TMI 889 - AT - Income TaxAddition u/s 68 - income of the assessee from the commodity profit - AO made the addition observing that the brokers did not come up to verify the transactions - HELD THAT:- AO was required to make proper enquiries before reaching to the conclusion that the transaction of commodity profit was bogus - the interest of justice will be well-served if the matter is restored to the file of the Assessing Officer with a direction to make further necessary enquires to arrive at a correct conclusion in this respect by using the powers of summoning and attending of witness etc. as per the provisions of Income Tax Act - the impugned order of the CIT(A) is set aside and the matter is restored to the file of the Assessing Officer with the above stated directions. Appeal of the assessee allowed for statistical purposes.
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