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2021 (7) TMI 895 - AT - Income TaxUn-explained cash credits u/s. 68 - correctness of both the lower authorities' action treating its share application money as unexplained - HELD THAT:- In view of the fact that its investor entity prima facie appears as a group company only which had escaped the consideration of learned lower authorities. We therefore restore the instant sole issue back to the AO for his fresh adjudication as per law. The assessee or its authorised representative shall appear before the AO on or before 30-11-2021 and shall file all the necessary details of investor entity at its own risk and responsibility to be followed by three effective opportunities of hearing. - Assessee's appeal is treated as allowed for statistical purposes.
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