2017 (1) TMI 1010

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..... of the Income Tax Act has been filed by the department against the order of tribunal dated 5.2.2010 for the assessment year 2005-06. The questions of law sought to be answered are as under: "1. Whether on the facts and in the circumstances of the case, the ITAT has erred in law in holding that the CIT's order directing the AO to obtain the addresses of sundry creditors and verify them is no .....

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..... the CIT on the issue about verification of sundry creditors and in cancelling the part of the order on the issue about the sale of land and valuation of the stock at the low rates?" We have heard Sri Ashish Agarwal for the department and have perused the record. Learned counsel has strenuously argued that the tribunal while upsetting the finding recorded by the CIT with regard to the verificatio .....

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..... are huge. No doubt a verification should have been made. In the absence of any findings being recorded with regard to the verification of the details, no doubt prejudice would be caused to the interest of revenue if without examining the details any order was passed. In view of the above, the order of the tribunal is set aside. The order of the CIT is affirmed. The questions referred to are ans .....

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