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Pr. Commissioner of Income Tax (Central) , Ludhiana Versus M/s Aggarwal Sales

2016 (11) TMI 892 - PUNJAB & HARYANA HIGH COURT

Unexplained income - Held that:- Certain notings in hand. The appellant contends that one of the entries therein in the sum of ₹ 96 lacs remained to be explained and that the amount was therefore, rightly added to the assessee's income. The CIT .....

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t was already a part of the record of the revenue as it pertained to the earlier assessment year. - There is no ground for interfering with the discretion exercised by the Tribunal in remanding the matter. The impugned order rightly notes that th .....

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Rajesh Katoch, Advocate, for the appellant ORDER S. J. Vazifdar, Chief Justice ( Oral ) This is an appeal against the order of the Income Tax Appellate Tribunal remanding the matter to the Assessing Officer to decide some of issues afresh in respect .....

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explained and that the amount was therefore, rightly added to the assessee's income. The CIT(Appeals) upheld the assessment order. The Tribunal, however, found that certain other documents especially a balance-sheet of 31.03.2005 ought to be con .....

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on exercised by the Tribunal in remanding the matter. The impugned order rightly notes that the balance-sheet would be a relevant consideration and therefore, ought taken into account while considering the assessee's explanation for the said entr .....

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e additional evidence. The findings in the order are not conclusive. The observations are merely prima facie. If they were conclusive there would have been no question of remanding the matter. Even the finding that the assessee had prima facie explai .....

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