Contact us   Feedback   Annual Subscription   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Extracts
Home List
← Previous Next →

2001 (10) TMI 1162 - itat Gauhati

2001 (10) TMI 1162 - itat Gauhati - [2002] 125 TAXMAN 259 (GAU.) (MAG.) - IT APPEAL NO. 240 (GAUHATI) OF 1994 - Dated:- 31-10-2001 - N.R.S. Ganesan, Judicial Member, And N.S. Saini, Accountant Member For the Appellant : S. Bhattacharjee. For the Respondent.: Sampat Kumar Jain and Kishore Kumar Jain ORDER Per Shri N.S. Saini, Accountant Member : This appeal is filed by the Revenue against the order of the CIT(A) deleting the addition of ₹ 29,25,000 made by the Assessing Officer under the he .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

re the Assessing Officer and that too undated. He argued that this the Assessing Officer was fully justified in adding this sum of ₹ 29,25,000 as income of the assessee as because merely filing of the confirmatory letter does not absolve the assessee from the duty cast by section 68 of the Act. He also stated that the action of the Assessing Officer is supported by the decision reported in 111 ITR 951 (Cal.), 177 ITR 690, 694 (Cal.) and 140 ITR 151 (Allahabad), He further argued that the C .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ng Officer made no effort to verify the loan transactions. He also pointed out that the assessee did not file the details regarding the loan creditors with evidence for the capacity to advance the loan along with complete addresses of the creditor before the Assessing Officer and hence the CIT(A) was not justified in deleting the addition of ₹ 29,25,000. On the other hand, the learned authorised representative of the assessee supported the order of the CIT(A). 3. We have considered the riv .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

n letters. Section 250(4) of the Act empowers the first appellate authority before disposing of an appeal, to make such further enquiry himself as he think fit. He does not exceed his jurisdiction if he asked the assessee to produce or file additional evidence or papers in the manner he think fit. In the case of Smt. Prabhavati S. Shah v. CIT [1998] 232 ITR 1, 8 (Bombay) it was observed by the Bombay High Court that the power conferred on the first appellate authority under section 250(4) being .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ce addition evidences but it does not restrain the CIT(A) powers under section 250(4) or section 250(5) of the act is held in the case of Smt. Prabhavati S. Shah (supra) and in the case of I.T.O. v. Bajoria Foundation 117 Taxman 126 (Cal.) (Mag.). In the instant case from the certified copy of the ordersheet of the CIT(A) it is clear that the CIT(A) on 2-8-1993 directed the assessee to file evidences of loan creditors and in pursuance to such direction of the CIT(A) additional evidences in the f .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

In the circumstances, we are of the considered opinion that the addition of additional evidences by the CIT(A) was in exercise of his power under section 250(4) of the Act and it has is not been done by violating the previsions of rule 46A of the I.T. Rules,1962. In confirmation letter of the creditors filed before the Assessing Officer,it has been observed that the address of the creditors as well as the G.I.R. Nos. of the creditors were duly given. Therefore the CIT(A) was justified in observ .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version