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| The Tax Publishers2020 TaxPub(DT) 5253 (Del-Trib) INCOME TAX ACT, 1961
Section 68
Where there was no doubt that assessee had filed all the documentary evidences for substantiating the claim of addition made on account of share application money received treating the same as unexplained income under section 68 and that AO as well as CIT(A) had not appreciated all the documentary evidences filed, therefore, in the interest of justice matter was remanded for consideration afresh.
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Income from undisclosed sources - Addition under section 68 - Share application money received - All documentary evidences filed
Assessee filed appeal against the order of CIT(A) making addition on account of share application money received treating the same as unexplained income under section 68 on the ground that AO as well as CIT(A) had not appreciated all the documentary evidences filed by it for substantiating the claim of it. Held: No doubt assessee has filed all the documentary evidences for substantiating the claim in dispute before AO as well as CIT(A). CIT(A) had also sought the Remand Report on the evidences filed by the assessee, but AO had not commented negatively in his Remand Report on the claim of the assessee. Not commenting upon the merits of the case because this will prejudice the mind of the CIT(A) and in the interest of justice, the issues involved in the present appeal were remanded to the CIT(A) to decide the same afresh.
REFERRED :
FAVOUR : Matter remanded.
A.Y. : 2008-09
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