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| The Tax Publishers2020 TaxPub(DT) 0910 (Ahd-Trib) INCOME TAX ACT, 1961
Section 68 Section 10B
Where assessee filed additional evidences under rule 46A before CIT(A) to justify cash credit accepted by assessee, but same were not accepted by CIT(A) on ground that assessee was afforded enough opportunities during assessment/appellate (1st and 2nd round) proceedings which were not availed by assessee, matter was restored back to file of AO for fresh adjudication in light of additional evidences but considering negligent/dilly-dally approach of assessee, cost was levied upon assessee.
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Income from undisclosed sources - Addition under section 68 - Remand to matter to AO for fresh adjudication in light of additional evidences -
Addition under section 68 was made in case of assessee. CIT(A) allowed appeal in part and held that deduction under section 10B would be allowable in a case where profit and gains has been derived by the 100% EOU from export of article or things or computer software. But according to CIT(A), addition under section 68 could not be said to be part of the export turnover. Held: It was found that assessee filed additional evidences under rule 46A before CIT(A) to justify cash credit accepted by assessee. However same were not accepted by CIT(A) on ground that assessee was afforded enough opportunities during assessment/appellate (1st and 2nd round) proceedings which were not availed of by assessee. Matter was restored back to file of AO for fresh adjudication in light of additional evidences. However, negligent/dilly-dally approach of assessee in pursuing matter before CIT(A) could not be neglected. Therefore, cost of Rs. 10,000 was levied upon assessee for adopting negligent approach in pursuing matter before CIT(A). Since main issue was restored back to AO for fresh adjudication as per the provisions of law, connected grounds of appeal were not adjudicated.
REFERRED :
FAVOUR : Matter remanded.
A.Y. : 2005-06
IN THE ITAT, AHMEDABAD 'C' BENCH
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