2020 (7) TMI 328

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..... pta, Sr. DR ORDER PER N.K. BILLAIYA, ACCOUNTANT MEMBER, This appeal by the assessee is preferred against the order of the CIT(A), Ghaziabad dated 28.09.2018 pertaining to assessment year 2009-10. 2. The solitary grievance of the assessee is that the ld. CIT(A) erred in enhancing the income of the assessee by Rs. 15,44,600/- on account of unexplained investment u/s 69 of the Act. 3. Briefly st .....

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..... the matter before the ld. CIT(A) and furnished some additional evidences, which were admitted by the ld. CIT(A). 6. The ld. CIT(A) called for remand report and the Assessing Officer 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 Rs. 10,800/- and the assessee's share comes to Rs. 5400/-. The ld. CIT(A .....

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..... rovisions of section 251 of the Act gives power to the ld. CIT(A) for enhancement, but at the same time, the same cannot be considered for enhancing income under a new source of income. 9. Strong reliance was placed on the decision of the Hon'ble High Court of Kerala in the case of B.P. Sherafudin 399 ITR 524 and on the decision of the Hon'ble High Court of Delhi in the case of Sardari La .....

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..... ing 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 .....

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..... d. 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 Assessing Officer has not made any addition u/s 69 of the Act and the ld. CIT(A) has to consider the decisions of the Hon'ble High Courts of Kerala and Delhi [supra]. Needless to mention that the ld. CIT(A) should give reasonable oppo .....

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