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Income Tax Appellate Tribunal, DELHI BENCH: ‘SMC-I’ NEW DELHI
Before: SMT DIVA SINGH
the circumstances, the AO may have been justified in awaiting the evidence of the factual information relied upon. Even otherwise, it is seen that no effort has been made by the tax authorities to address what was the business of the assessee when it was in operation and by what event or fact it is claimed and accepted that the business has stopped. Even the Ld.AR it is noticed was not sure when the business was stopped. In the circumstances where the assessee has shied away from supporting its claim that the said concern also accepts that there was no business with the assessee, it will be appropriate to restore the issue back to the file of AO directing the said authority to pass a speaking order in accordance with law. Needless to say that the assessee shall be afforded a reasonable opportunity of being heard.
In the result, the appeal of the assessee is allowed for statistical purposes The order is pronounced in the open court on 06th of January, 2017. Sd/- (DIVA SINGH) JUDICIAL MEMBER *Amit Kumar* Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(Appeals) 5. DR: ITAT ASSISTANT REGISTRAR, ITAT NEW DELHI
I.T.A .No.-4966/Del/2016 Barter Impex India P.Ltd. vs ITO