ITO Vs. Sh. Ashok Kumar Kesarwani (ITAT Delhi)- Impugned addition in this regard were made by the Assessing Officer as the assessee has failed to provide the necessary documentary evidence with regard to the transactions. We find that Ld. Commissioner of Income Tax (Appeals) has granted relief to the assessee without elaborately discussing the subject and without referring to the cogent material in this regard. In our considered opinion, interest of justice will be served, if the matter is remitted to the file of the Assessing Officer to consider the issue afresh. Assessee is directed to provide the necessary details to the Assessing Officer in this regard. Accordingly, the issue stands remitted to the file of the Assessing Officer .
ORDER
PER SHAMIM YAHYA: AM
This appeal by the Revenue is directed against the order of the Ld. Commissioner of Income Tax (Appeals) dated 28.10.2009 pertaining to assessment year 2005- 06.
2. The grounds raised read as under:-
“(i) In the facts and the circumstances of the case, the Ld. Commissioner of Income Tax (Appeals) has erred in deleting the addition of Rs. 11,40,000/- made by the Assessing Officer on account of difference in value of sale proceeds of plots.
(ii) In the facts and the circumstances of the case, the Ld. Commissioner of Income Tax (Appeals) has erred in deleting the addition of Rs. 4,30,000/- made by the Assessing Officer on account of unexplained cash credits.
(iii) The appellate craves leave for reserving the right to amend, modify, alter, add or forego any time before or during the hearing of this appeal.”
3. In this case on perusal of the computation of income, Assessing Officer noted that the assessee has shown short term capital gain of Rs. 20,000/- on the sale of two industrial plots as under:-
