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2022 (5) TMI 888 - AT - Income TaxAddition u/s 69 - Unexplained investment - Whether CIT(A) is right in allowing the appeal on merely technical ground of lack of enquiry by A.O., when the CIT Appeal himself has all the powers of the AO? - HELD THAT:- In the present case, the assessee had not filed return of income and in order to verify the transactions as intimated by the investigation wing, the summons was issued. However, the same was also not attended by the assessee, and reassessment proceeding u/s 148 was initiated. AO by referring to the statement of the Director of Consortium Capital Private Limited made the addition under section 69 - CIT(A) thought observed that various submissions, as filed by the assessee, were not considered by the Assessing Officer while making the addition, however, learned CIT(A) failed to make any enquiry nor called for any remand report from the Assessing Officer, even after noting various shortcomings in the assessment order. The learned CIT(A) merely on account of absence of material being brought on record deleted the addition made under section 69 of the Act. We are of the considered opinion that, in the present case, CIT(A) has not discharged its obligation of ensuring effective enquiry and detailed scrutiny of all the aspects while deciding the appeal. Thus, we deem it appropriate to set aside the impugned order and remand the matter to the learned CIT(A) for de novo adjudication after conducting proper and effective enquiry. Appeal by the Revenue is allowed for statistical purpose.
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