Case Law Details
Anubhav Jain Vs ITO (ITAT Delhi)
Conclusion :- Bogus Capital gains– Order is against the principle of natural justice in as much as the order has been passed taking the statement of person as base, the copy of which is not made available to the assessee. Further, opportunity to cross examine the concerned person was also not provided to the assessee.
Facts :-
Return of the assessee selected for scrutiny through CASS for reason ‘Suspicion long term capital gain’.
The authorized representative of the assessee duly attended the proceedings and furnished required details. The AO passed assessment order assessing addition of income. The addition of income was done based simply on the statement of Sh. Vikram Kayan.
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