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| The Tax Publishers2020 TaxPub(DT) 1096 (Del-HC) INCOME TAX ACT, 1961
Section 143(3)
Where assessee explained position to AO that amounts were received on maturity of deposits with Post Office under Monthly Income Scheme (MIS) and she even procured a letter issued by postal department, which clearly stated that said deposits were internal transfers and not deposits made in cash, thus, assessment order was set aside and matter was remanded back to AO for reconsideration.
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Assessment - Validity - Deposit in assessee's banks were merely internal transfers due to maturity of post office savings and not cash deposits -
Assessee filed petition against assessment order and order rejecting stay of demand directing him to deposit 20% of entire demand drawn within 7 days. Held: Assessee explained position to AO that amounts were received on maturity of deposits with Post Office under the Monthly Income Scheme (MIS). Assessee even procured a letter issued by postal department, which clearly stated that said deposits were internal transfers and not deposits made in cash. It was not appreciated as to how, firstly, AO could have rejected the stay application. Assessee should not be subjected to harassment for pursuing her appeal. Therefore, assessment order was set aside and matter was remanded back to AO for passing a fresh assessment order after considering relevant documents including communication issued by concerned Official of postal department.
REFERRED :
FAVOUR : In assessee's favour by way of remand
A.Y. :
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