|The Tax Publishers2020 TaxPub(DT) 5377 (Visakhapatnam-Trib)
INCOME TAX ACT, 1961
It was true that there was negligence on the part of assessee to file the details before AO to verify unsecured loans from persons who had not filed return of income, however, in the interest of justice one more opportunity was given to the assessee to substantiate her case before AO.
Assessment - Best judgement assessment - No details furnished by assessee before AO -
Assessee's case was selected for scrutiny under CASS to verify unsecured loans from persons who had not filed return of income. AO issued notice to produce books of account, bills and other information. Assessee did not respond, therefore, assessment was completed under section 144. Held: There was negligence on the part of assessee to file the details before the AO, however, in the interest of justice and by following the principles of natural justice one more opportunity should be given to the assessee. In view of the above, matter was remanded to AO so that assessee could substantiate her case before AO.
FAVOUR : Matter remanded.
A.Y. : 2013-14
IN THE ITAT, VISAKHAPATNAM BENCH
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