Juned Yusuf Shethwala Vs ITO (ITAT Ahmedabad)
The assessee derived income from trading of cloth and dress material. The case of assessee was re-opened u/s 147 on the basis of AIR information regarding that the assessee has paid Rs.32,32,572/- against the credit card bills and share transaction of Rs.8,71,152/- during AY 2010-11. In lack of proper explanation from the assessee, AO made additions of Rs.14,17,999/- in respect of unexplained credit card payment and Rs.4,12,050/- on account of investment in shares and deduction under chapter VIA amounting to Rs.30,000/-. Appeal filed by the assessee before CIT (A) was dismissed.
It was submitted by the assessee that CIT (A) passed ex-parte order and assessee deserves one more opportunity. On the other hand revenue relied upon the order of lower authorities.
Finally, ITAT observed that it is not clear from the order of CIT(A) whether any specific notices on specified dates have been issued to the assessee or service of the notices were properly done or not. CIT (A) did not decide the case on merits. Hence, it will be appropriate to remand back the matter to the file of the CIT(A) for proper adjudication and verification of the evidences.
Hence, the appeal of the assessee is partly allowed for statistical purposes.
