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| The Tax Publishers2020 TaxPub(DT) 3785 (Karn-HC) : (2021) 430 ITR 0070 : (2021) 277 TAXMAN 0480 INCOME TAX ACT, 1961
Section 69
Since Tribunal had not decided the issue on merits and ought to have adjudicated the issue with regard to unexplained credits and had held that orders of reassessment have been rendered infructuous, therefore, order passed by Tribunal was quashed and matter was remanded back to CIT(A) to determine the issue afresh with regard to the unexplained cash credits.
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Income from undisclosed sources - Addition under section 69 - Unexplained cash credits - Tribunal failed to decide the issue on merits
A search was conducted under section 132 and Bank accounts of the assessee was examined and it was found that assessee could not explain the sources of various deposits made in the bank. Thereafter, block assessment order was passed by which AO determined the total undisclosed income, wherein among other additions three credits pertaining to assessment years 1996-97 and 1997-98 were also assessed under undisclosed income. Held: From perusal of the order passed by Tribunal, it was found that he had not decided the issue on merits and ought to have adjudicated the issue with regard to unexplained credits. Since Tribunal erred in not adjudicating the issues on merits, therefore, order passed by Tribunal was quashed and matter was remanded back to CIT(A) to determine the issue afresh with regard to the unexplained cash credits.
Relied:CIT v. Suresh N. Gupta (2008) 297 ITR 322 (SC) : 2008 TaxPub(DT) 1438 (SC)
REFERRED :
FAVOUR : Matter remanded
A.Y. :
IN THE KARNATAKA HIGH COURT
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