9911796707
TMI Blog2021 (9) TMI 1286X X X X Extracts X X X X X X X X Extracts X X X X ..... creditworthiness of lenders and genuineness of the loans in question, this Court remands the matter to the CIT(A) to consider the appellant s said defence under Section 68 of the Act - the finding given by the CIT(A) in the impugned is set aside. - ITA 148/2021 & CM APPL. 33270-271/2021 - - - Dated:- 27-9-2021 - HON'BLE MR. JUSTICE MANMOHAN AND HON'BLE MR. JUSTICE NAVIN CHAWLA App ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as CIT(A) ] had erroneously held that the same amount could not have been taxed twice in the same year in hands of different tax entities. He, however, emphasises that neither the Commissioner, Income Tax (Appeal) nor the ITAT adjudicated upon the merits of the case. 4. Issue notice. Mr. Sunil Agarwal, Advocate accepts notice on behalf of the respondents. He states that in view of the limited ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r, on the facts and in the circumstances of the case, the Tribunal was wrong in reversing the decision of CIT(A) without remanding the case to the CIT(A) for adjudication of the case on merits 7. The Supreme Court in Principle Commissioner of Income Tax (Central-I) vs. NRA Iron Steel Pvt. Ltd.(supra) has held as under:- 13.1. The assessee is under a legal obligation to prove the ge ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Act. 8. Keeping in view the fact that CIT(A) had not considered the appellant s defence with regard to identity and creditworthiness of lenders and genuineness of the loans in question, this Court remands the matter to the CIT(A) to consider the appellant s said defence under Section 68 of the Act. At the cost of repetition, it is emphasised that the finding given by the CIT(A) in the impu ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
