ITAT remands matter back to CIT(A) to grant one final opportunity to assessee

Plutus Industries Pvt. Ltd. Vs ITO (ITAT Delhi) We find the Assessing Officer in the instant case made addition of Rs.1,36,39,191/- u/s 68 of the Act in respect of unsecured loan obtained by the assessee from three directors on the ground that the assessee failed to substantiate with evidences to his satisfaction regarding creditworthiness of the three directors and the genuineness of the transactions. We find the learned CIT(A) sustained the addition made by the Assessing Officer, since, the assessee did not appear before her to substantiate the creditworthiness of the directors and the genui...