ALTIUS EQUIPMENTS,BANGALORE vs. INCOME TAX OFFICER WARD-7(2)(4), BANGALORE

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ITA 2553/BANG/2018Status: DisposedITAT Bangalore20 February 2020AY 2015-162 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal admitted the additional evidence and remanded the matter back to the CIT(A). The CIT(A) is directed to reconsider the issue after admitting the additional evidence and providing a reasonable opportunity of being heard to both parties.

What were the facts?

The Assessing Officer (AO) made an addition of Rs. 64 lacs to the assessee's income, stating that the assessee failed to establish the genuineness and creditworthiness of a creditor. The assessee had filed a confirmation from the creditor as additional evidence before the CIT(A), but it was not admitted.

What were the issues?

Whether the CIT(A) erred in not admitting the additional evidence filed by the assessee and whether the matter should be remanded for fresh consideration.

Which sections of the Income-tax Act were involved?

Section 68

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, BANGALORE BENCH ‘ A ’

Before: SHRI N. V. VASUDEVAN & SHRI A. K. GARODIA

For Appellant: Shri B. S. Balachandran, Advocate
For Respondent: Shri Manjeet Singh, Addl. CIT DR

O R D E R

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