TMI Blog2020 (7) TMI 328X X X X Extracts X X X X X X X X Extracts X X X X ..... if not satisfied, then should have issued notice of enhancement. Since the Assessing Officer had no opportunity to examine the evidences, we deem it fit to restore the entire issues to the file of the CIT(A). CIT(A) is directed to examine the evidences relating to the source of investment and after satisfying himself, should proceed further keeping in mind that the AO has not made any addition u/s 69 as relying on SARDARI LAL CO [ 2001 (9) TMI 1130 - DELHI HIGH COURT] and SHRI. B.P. SHERAFUDIN [ 2017 (11) TMI 128 - KERALA HIGH COURT] - Appeal of the assessee is treated as allowed for statistical purposes. - ITA No. 7956/DEL/2018 - - - Dated:- 3-6-2020 - Shri N.K. Billaiya, Accountant Member, And Ms. Suchitra Kamble, Judicial Member ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fficer filed the same vide letter dated 28.08.2018. In his remand report, the Assessing Officer accepted that the short term capital gain worked out to ₹ 10,800/- and the assessee s share comes to ₹ 5400/-. The ld. CIT(A) accepted the short term capital gain computed at ₹ 5400/-. However, the ld. CIT(A) was of the opinion that the source of investment of ₹ 15,44,600/- remained unexplained. Accordingly, the assessee was asked to explain the source of investment. 7. The assessee filed necessary details of his source of investment which did not find any favour with the ld. CIT(A) who proceeded by confirming the addition made by the Assessing Officer to the extent of ₹ 5400/- and made further addition of S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Assessing Officer was compelled to frame assessment u/s 144 of the Act. It is equally true that the Assessing Officer has made addition on account of short term capital gain. Before the first appellate authority, though the first appellate authority accepted additional evidences and computation of short term capital gain, but at the same time, made additions u/s 69 of the Act thereby exploring the new source of income. 12. A perusal of the order of the first appellate authority does not reveal that any notice of enhancement was issued to the assessee and prior to such notice it is not known whether the ld. CIT(A) has asked the assessee to explain the source of investment. Though there is a passing reference that the assessee was r ..... X X X X Extracts X X X X X X X X Extracts X X X X
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