9911796707
TMI Blog2020 (9) TMI 415X X X X Extracts X X X X X X X X Extracts X X X X ..... me Tax Act, 1961 ("the Act" for brevity), is directed against the order dated 12.12.2017 passed by the Income Tax Appellate Tribunal, Chennai 'D' Bench (for brevity, the Tribunal) in ITA No.3169/Mds/2016 for the assessment year 2013-14. 3.The following substantial questions of law have been raised by the revenue in this appeal: "1.Whether the Appellate Tribunal right in setting aside the orders of the lower authorities with a direction to the Assessing Officer to do the same assessment afresh which unwarranted? 2.Whether the Appellate Tribunal is justified in holding that the assessee has right to produce evidence in later part of proceedings against his own submission made in the statement u/s.132(4) of the Act and to retract ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Rs. 5,45,72,620/- towards undisclosed gold jewellery, Rs. 58,34,206/- towards undisclosed bullion and Rs. 22,74,500/- towards undisclosed income. The computation of the undisclosed gold jewellery has been referred to by the learned Senior Standing Counsel for the revenue by stating that this was done after considering the evidence produced by the assessee before the Assessing Officer. It is further submitted by the learned Senior Standing Counsel for the revenue that the assessee during the course of search was unable to give proper explanation for the source of cash and it was treated as undisclosed income for the relevant assessment year and added as such to the income the assessee. 5.The assessee being aggrieved by the order of assessme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er Section 132(4) of the Act being undeniable, the order of remand passed by the Tribunal would lead to various other disastrous consequence. Therefore, it is submitted that the order of remand to the Assessing Officer is total uncalled for and the Tribunal failed to record any reasons justifying the order of remand for de novo adjudication. 6.The learned counsel for the respondent/assessee submitted that the order of remand has been complied with and the Assessing Officer has passed an order which was adverse to the assessee and therefore, the assessee has filed an appeal before the CIT(A). 7.After elaborately considering the contentions on either side, we are of the view that the Substantial Questions of law need not be answered in the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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