Additional Evidence under Rule 46A must be allowed for reasonable cause

Shivali Bardoliya Brief of the Case: In the case of M/s ONS Creations Private Limited Vs. ITO, it was held by ITAT Delhi that if additional evidence can not be produced before AO for a reasonable cause by assessee, the CIT (A) must admit the additional evidences and assessee must be given an afresh opportunity of being heard. Brief Facts of the Case: The assessment in assessee’s case was completed U/s 144 of the Income tax Act, 1961 by AO. On appeal being filed by assessee, the CIT (A) passed an order U/s 263 and directed the AO to make an addition on account of unexplained loans along with ...