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TMI Blog2024 (6) TMI 792X X X X Extracts X X X X X X X X Extracts X X X X ..... ue back to the file of the Assessing Officer who will examine the entire investments of foreign remittance received from M/s. Darlington Investments P Ltd, Singapore under section 68 of the Act denovo. In terms of the above discussions, I remit the issue back to the file of the ld. Assessing Officer for fresh consideration. Appeal filed by the assessee is allowed for statistical purposes. - SHRI MAHAVIR SINGH, VICE PRESIDENT For the Appellant : Shri. S. Sridhar, Advocate For the Respondent : Shri G. Suresh, IRS, JCIT ORDER This appeal filed by the assessee is arising out of the order of the Commissioner of Income Tax (Appeals)-16, Chennai in ITA No.168/CIT(A)- 16/2013-14, dated 21.07.2023. The assessment was framed by the Deputy Commissio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h reads as under:- 6. During the course of assessment proceedings, vide this office letter dt.8/3/2013, the assessee was asked to produce details with regard to the receipt of Rs.6,58,23,500/- and cheque deposits of Rs.15 lakhs and Rs.31 lakhs and payment to M/s.S.M. Apparels to the extent of Rs.6,88,00,000/-. (1) In response to the same, vide letter dt. 12/3/2013, copy of investment agreement with M/s. Darlington Investments P Ltd., copy of forward inward remittance certificate issued by M/s.Lakshmi Vilas Bank Ltd., Mylapore, Chennai and copy of books of accounts for the period from 1/4/10 to 31/3/11. Subsequently, vide letter dt.20/3/2013, the assessee filed sworn affidavit of Shri Vijay M Pai in which it is stated as under: That the sum ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Apparels Pvt. Ltd 5. Now, ld. Counsel for the assessee before me only requested that assessee has filed all the evidences before the ld. CIT(A) who has not examined the issue properly and the ld. CIT(A) has not examined the bank statements of M/s. Darlington Investments P Ltd and these investments obtained from inward remittance and inward remittance certificate and necessary permissions letter were also filed. When this was put to ld. Senior Departmental Representative he agreed that these details were filed before the ld. CIT(A) but the ld. CIT(A) had not gone through details and without examining the same enhanced the income of the same. Hence, he prayed that the matter can be restored back to the file of the Assessing Officer for fresh ..... X X X X Extracts X X X X X X X X Extracts X X X X
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