CIT(A) Can Make Independent Inquiries Under Section 250(4): Delhi HC

CIT Vs Sh. Hotchand Techchand Punjabi (Delhi High Court) Delhi High Court has dismissed an appeal filed by the Income Tax Department (Revenue) against Sh. Hotchand Techchand Punjabi, affirming the Income Tax Appellate Tribunal’s (ITAT) decision to delete a substantial addition made to his income. The case, concerning Assessment Year (AY) 2012-13, revolved around alleged unexplained time deposits in Canara Bank and highlighted the significant powers vested in the Commissioner of Income Tax (Appeals) [CIT(A)] to conduct independent inquiries and admit additional evidence. The High Court al...