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Income Tax Appellate Tribunal, ‘A’ BENCH, CHENNAI
Before: HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM & HON’BLE SHRI MANU KUMAR GIRI, JM
pआयकर अपीलीय अिधकरण ‘ए’ �ायपीठ चे�ई म�। IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, CHENNAI माननीय ,ी मनोज कुमार अ0वाल ,लेखा सद5 एवं माननीय ,ी मनु कुमार िग8र, �ाियक सद5 के सम9। BEFORE HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM AND HON’BLE SHRI MANU KUMAR GIRI, JM आयकरअपील सं./ (िनधा:रणवष: / Assessment Year: 2018-19) Smt. Aradhana Jain ITO बनाम/ Non-Corporate Ward-11(1) 19, Karuppannan Street, Vs. Chennai. Chennai-600 001. �थायीलेखासं./जीआइआरसं./PAN/GIR No. AKFPJ-9495-D (अपीलाथ�/Appellant) : (� थ� / Respondent) अपीलाथ� कीओरसे/ Appellant by : Shri S. Sridhar (Advocate) -Ld.AR � थ�कीओरसे/Respondent by : Shri R. Mukundan (JCIT)-Ld. Sr. DR सुनवाई की तारीख/Date of Hearing : 13-06-2024 घोषणा की तारीख /Date of Pronouncement : 18-06-2024 आदेश / O R D E R Manoj Kumar Aggarwal (Accountant Member)
Aforesaid appeal by assessee for Assessment Year (AY) 2018-19 arises out of the order of learned Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi [CIT(A)] dated 24-01-2024 in the matter of an assessment framed by Ld. Assessing Officer [AO] u/s. 143(3) r.w.s 143(3A) & 143(3B) of the Act on 06-04-2021. In the assessment order, Ld. AO invoked provisions of Sec.41(1) and made addition of Rs.97.77 Lacs alleging remission / cessation of trading liability. The Ld. CIT(A) confirmed the same on the ground that the assessee did not file any documentary evidences to support existence of liabilities. Aggrieved, the assessee is in further appeal before us.
The ld. AR has submitted that the assessee is in a position to substantiate its case and therefore, the matter may be remitted back to lower authorities. The Ld. Sr. DR opposed the same. Accepting the prayer of Ld. AR, we set aside the impugned order and restore the matter back to the file of Ld. AO for de novo assessment with a direction to the assessee to substantiate its case. 3. The appeal stands allowed for statistical purposes. Order pronounced on 18th June, 2024 Sd/- Sd/- (MANU KUMAR GIRI) (MANOJ KUMAR AGGARWAL) �ाियक सद5 / JUDICIAL MEMBER लेखा सद5 / ACCOUNTANT MEMBER चे5ई Chennai; िदनांक Dated :18-06-2024 DS आदेशकीNितिलिपअ0ेिषत/Copy of the Order forwarded to : 1. अपीलाथ�/Appellant 2. � थ�/Respondent 3. आयकरआयु>/CIT,Chennai . 4. िवभागीय�ितिनिध/DR 5. गाडCफाईल/GF