2016 (6) TMI 1503

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..... A of the Income Tax Act, 1961 (the Act) challenges the order dated 1st May, 2013 passed by the Income Tax Appellate Tribunal (the Tribunal). The impugned order is in respect of Assessment Year 1992­93. 2. This appeal raises the following questions of law for our consideration :­ "(i) Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in hold .....

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..... t­assessee and yet relied upon by the Assessing Officer to make the additions of Rs.17.76 crores. (b) In appeal, the Commissioner of Income Tax (Appeals) (CIT(A)) upheld the order of the Assessing Officer holding that it was open to the respondent-­assessee to obtain the necessary material from the concerned party from whom the Assessing Officer had obtained the material. Thus the order .....

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..... pugned order of the Tribunal on the above issue is unimpeachable. The basic principles of natural justice require that before any addition is made by the Assessing Officer on information obtained from third parties/own source, he must confront the assessee with the material so obtained. This above would enable the assessee to explain the correctness/incorrectness or unreliability of the evidence s .....

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