Negligent & casual attitude during assessment – ITAT imposes cost on Assessee

Rajkumar Tiwari Vs ITO (ITAT Ahmedabad) As regards the merit of the issue involved in this case relating to the addition of Rs.6,54,300/- made by the Assessing Officer under Section 69C of the Act by treating the cash payments made by the assessee against credit card purchases as unexplained expenditure, the learned Counsel for the assessee has submitted that the matter may be restored to the file of the Assessing Officer as neither the Assessing Officer nor the learned CIT(A) has considered and decided the issue on merits. The learned DR, on the other hand, has submitted that sufficient oppor...