SHRI SANJEEV KUMAR,FARIDKOT vs. DCIT, CC-2, LUDHIANA

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ITA 1536/CHANDI/2019Status: DisposedITAT Chandigarh29 June 2021AY 2011-124 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal noted that it was unclear when the remand report was sent to the assessee and whether sufficient time was provided for a response. Therefore, the case was set aside to the Assessing Officer for fresh adjudication.

What were the facts?

During a search operation, bank drafts totaling Rs. 17,00,000/- belonging to the assessee's family were found. The Assessing Officer made an addition as the assessee failed to provide a plausible explanation for the source of these funds.

What were the issues?

Whether the assessee was provided with adequate opportunity to explain the source of funds for the bank drafts, and if the remand report was properly communicated.

Which sections of the Income-tax Act were involved?

Section 132,Section 133A

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आदेश क� ��त�ल�प अ�े�षत/ Copy of the order forwarded to :

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