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2020 (3) TMI 1469 - ITAT JODHPURReopening of assessment u/s 147 - investment towards purchase of plot as unexplained - HELD THAT:- The assessment was reopened on the basis of statement of Shri Madan Mohan Gupta recorded during the search at his business premises and also on the basis of documents found during the course of search. So far as the reopening is concerned, we found that after recording speaking reasons, the AO concluded that the income has escaped assessment. Accordingly, no infirmity in the order of the AO for reopening of the assessment. Addition u/s 69 - As decided in Dhirendra Singh [2019 (3) TMI 2029 - ITAT JAIPUR] wherein held addition made by AO merely on the basis of statement, when there is no corroborative material with AO suggesting the alleged addition, without allowing assessee an opportunity to cross examine the person on whose statement addition was made. Accordingly, AO is directed to delete the addition so made - Decided in favour of assessee in part.
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