ITAT Remands Case as CIT(A) Ignored Survey Findings on Accommodation Entries

ITO-4(3)(1) Vs NIBR Bullion Pvt. Ltd. (ITAT Mumbai) ITAT sets aside CIT(A) order for improper evaluation of evidence and remands and restores the matter Summary: In , the Income Tax Appellate Tribunal set aside the order of the Commissioner of Income Tax (Appeals) in the case of ITO-4(3)(1) Vs NIBR Bullion Pvt. Ltd. and restored the matter to the Assessing Officer for fresh adjudication. The dispute arose from transactions between the assessee and M/s Swastic Corporation, where a survey under Section 133A revealed that the proprietor, Shri Bijal Ashok Shah, had admitted to providing accommodat...