TMI Blog2017 (5) TMI 1643X X X X Extracts X X X X X X X X Extracts X X X X ..... ition in the hands of assessee, the same should be confronted to the assessee and the assessee should be allowed to cross-examine the witness in this regard. From a careful perusal of the orders of lower authorities, it is quite evident that statement of Mr. Mukesh Choksi was relied on for making the addition, but assessee was never allowed to cross-examine him. AO was not justified in making addition in the hands of assessee, without allowing the assessee to cross-examine Mr. Mukesh Choksi, whose statement was relied upon for making the above additions. Accordingly set aside the order of CIT(Appeals) and restore the matter to the file of AO with a direction to first confront the statement of Mr. Mukesh Choksi to the assessee and allow h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e tax (Appeals) has instead of quashing the impugned order, has just confirmed the order of Assessing Officer without properly considering the fact and circumstances of the case, arguments of the appellant and the law applicable. 3.3 In any case and without prejudice, the orders passed by the authorities below being contrary to binding dictum of the jurisdictional High Court are bad in law and are liable to be quashed. 4. The assessing officer had in any case, erred in treating a sum of ₹ 5,42,863/- being sale consideration received on sale of shares as 'Income from other sources' and the learned Commissioner of Income tax (Appeals) has erred in confirming the same. The action of authorities below has no support in law; ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... llant denies the liability to pay interest. The interest having been levied erroneously is to be deleted. 8. In view of the above and other grounds to be adduced at the time of hearing it is requested that the impugned order be quashed or atleast the income from long Term Capital Gain earned on sale of shares as claimed exempt U/S 10(38) of the Act by the appellant be accepted, the assessment of sale consideration received on sale of shares as Income from Other Sources be deleted and the interest levied be also deleted. 2. During the course of hearing, the ld. counsel for the assessee has invited our attention to the assessment order with the submission that search was conducted in a group of Shri Mukesh Choksi and on the basis of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt or the evidence which is being relied upon by the AO for making the addition in the hands of assessee, the same should be confronted to the assessee and the assessee should be allowed to cross-examine the witness in this regard. 6. From a careful perusal of the orders of lower authorities, it is quite evident that statement of Mr. Mukesh Choksi was relied on for making the addition, but assessee was never allowed to cross-examine him. In these circumstances, I am of the view that the AO was not justified in making addition in the hands of assessee, without allowing the assessee to crossexamine Mr. Mukesh Choksi, whose statement was relied upon for making the above additions. I accordingly set aside the order of CIT(Appeals) and restor ..... X X X X Extracts X X X X X X X X Extracts X X X X
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