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| The Tax Publishers2020 TaxPub(DT) 3962 (Mum-Trib) INCOME TAX ACT, 1961
Section 68
Assessee filed before AO ledger extracts of the party thereby stating that payments have been made through account payee cheque only, however, assessee could not produce the said party before AO and also the fact that assessee had sought adjournment before CIT(A), whereas assessee failed to appear before him on the final opportunity given by CIT(A), assessee might be given another opportunity, therefore, matter was remanded back to CIT(A) to decide the case on merit.
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Income from undisclosed sources - Addition under section 68 - Bogus purchase -
During the course of assessment proceedings, AO observed that assessee had obtained accommodation entries by bogus purchase bills. AO received the above information from the Sales Tax Department, Govt of Maharashtra. On the basis of said information, he made an addition under section 68. Held: Assessee filed before AO ledger extracts of the said party thereby stating that payments have been made through account payee cheque only. Assessee could not produce the said party before AO. Also the fact that assessee had sought adjournment before CIT(A), whereas assessee failed to appear before him on the final opportunity given by CIT(A), assessee might be given another opportunity by first appellate authority before deciding the appeal on merit. Therefore, matter was remanded back to CIT(A) to decide the case on merit.
REFERRED :
FAVOUR :
A.Y. : 2009-10
IN THE ITAT, MUMBAI BENCH
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