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TMI Blog2013 (7) TMI 658X X X X Extracts X X X X X X X X Extracts X X X X ..... editors, per se, would not be a good ground to allow the appeal filed by the assessee. If the Appellate Authority felt that on the furnishing of any fresh material, the case demanded a fresh enquiry, the Appellate Authority should have remanded the matter by directing the Assessing Officer to make enquiry on the documents filed and pass orders - Assessment to A.O. Decided in favour of Revenue. - Tax Case (Appeal) No.15 of 2010 - - - Dated:- 17-6-2013 - Chitra Venkataraman And K. B. K. Vasuki,JJ. For the Appellant : Mr. T. R. Senthil Kumar For the Respondents : Mr. G. Ashok Pathy for M/s. Pass Associates JUDGMENT (Judgment of the Court was delivered by Chitra Venkataraman,J.) The above Tax Case (Appeal) is filed at the i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... through the details furnished, it was found that the assessee had made cash deposits of Rs.18,28,328/- in the bank and had loans and liabilities to the tune of Rs.2,82,84,312/-. On calling for further details on cash deposits, it was found that they were not from the account of M/s.Ilayaraja Multinational. On further verification, the Assessing Officer came to the conclusion that the said sum was assessable as unexplained investment under Section 69 under the head "income from other sources". Further, it was also found that the assessee had made cash deposits of Rs.24,07,300/- in Hongkong and Shanghai Corporation Ltd. When it was pointed out that the deposits of Rs.60,57,212/- had no correlation to the interest income of Rs.186/- admitted i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e, the Revenue went on appeal before the Income Tax Appellate Tribunal. The Tribunal, after referring to the letter written by the assessee offering the deposits in the bank for assessment, recorded its impression as follows:- "From a plain reading of this letter, we can easily understand that when query after query was thrown upon the assessee and due to the reasons mentioned in the letter it was difficult for her to explain as the circumstances were pretty beyond her control, in order to buy peace only she offered the deposits in the banks but with a rider that penalty proceedings should not be initiated. The circumstances under which this admission was made and retracted are overtly clear from the assessment order itself. ............. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing counsel appearing for the Revenue took us through the assessment order in detail only to point out that every opportunity was granted by the Assessing Officer to the assessee to explain the sources of the investment and the details of the loans and advances found. The detailed discussion and the various materials produced would show that there was no denial of opportunity given to the assessee to substantiate her claim on the return of income and the investments and the borrowings thereon. Admittedly, when the assessee had no substantive evidence to explain the same, the assessee also filed a letter, offering the said amounts as her income. Thus, apart from authorised representative agreeing for the assessment to be made on the amount o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed having any transaction with the assessee but only with Raja music Universal wherein the assessee was the managing partner, the mere filing of details of creditors, per se, would not be a good ground to allow the appeal filed by the assessee. If the Appellate Authority felt that on the furnishing of any fresh material, the case demanded a fresh enquiry, the Appellate Authority should have remanded the matter by directing the Assessing Officer to make enquiry on the documents filed and pass orders. On the other hand, he rest satisfied holding that he had gone through the accounts and the confirmation placed on record. He further observed that even though the assessee could not explain the investments before the Assessing Officer, she had e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h perversity writ large, we hold that the reasoning is without any basis or material evidence demanding the setting aside of the order of the Tribunal. Although by setting aside the order, the assessment could very well be confirmed, considering the persistent submissions of the learned counsel for the assessee that the materials were, in fact, placed before the Commissioner, to render justice, we feel that the assessment be restored before the Officer for considering the fresh material, if any, produced by the assessee before the Commissioner and pass orders thereon. 8. In the circumstances, we set aside the order of the Tribunal and restore the matter to the files of the Assessing Officer for passing fresh assessment order after giving ..... X X X X Extracts X X X X X X X X Extracts X X X X
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