G. BALA MADDAIAH, KURNOOL,HYDERABAD vs. ITO, WARD-1, KURNOOL, KURNOOL

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ITA 630/HYD/2017Status: DisposedITAT Hyderabad13 March 2019AY 2011-122 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal admitted additional evidence submitted by the assessee, including bank and cash-flow statements. The issue was remanded to the AO for verification and adjudication.

What were the facts?

The assessee's appeal for AY 2011-12 concerned an addition for unexplained cash credits. The assessee had not furnished sufficient details to the AO or CIT(A).

What were the issues?

Whether additional evidence can be admitted for adjudication of an appeal concerning unexplained cash credits. The necessity of remanding the issue to the AO for proper verification.

Which sections of the Income-tax Act were involved?

Section 68

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, Hyderabad ‘ B ‘ SMC Bench, Hyderabad

Before: Smt. P. Madhavi Devi

Hearing: 12.03.2019Pronounced: 13.03.2019

This is assessee’s appeal for the A.Y 2011-12 against the order of the CIT (A)-Kurnool, dated 10.01.2017.

2.

At the time of hearing, the learned Counsel for the assessee submitted that the addition is towards unexplained cash credits and the assessee could not furnish the relevant details before the AO or the CIT (A). He has submitted a petition under Rule 21 of the ITAT Rules for filing of the additional evidence which includes Bank Statement, Cash-flow statements etc., to explain the unexplained cash deposits. He therefore, prayed for admission of the same and to consider the same for decision on merits.

3.

The learned DR was also heard.

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ITA No 630 of 2017 G Bala Maddaiah Kurnool.

4.

Since the additional evidence is necessary to adjudicate the appeal on merits, I deem it fit and proper to admit the same and remand the issue to the file of the AO for verification and adjudication of appeal in accordance with law. Needless to mention that the assessee shall be given a fair opportunity of being heard.

5.

In the result, appeal is allowed for statistical purposes. Order pronounced in the Open Court on 13th March, 2019.

Sd/- (P. Madhavi Devi) Judicial Member

Hyderabad, dated 13th March, 2019. Vinodan/sps Copy to: 1 Shri G. Bala Maddaiah C/o Venugopal & Chenoy, C.A, 4- 1889/16/2, Tilak Road, Hyderabad 500001 2 ITO Ward-1 Kurnool 3 CIT (A)-Kurnool 4 Pr. CIT - Kurnool 5 The DR, ITAT Hyderabad 6 Guard File

By Order

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