DIVYA THOTTATHIL JOSEPH,ERNAKULAM vs. ITO, NON CORP WARD-1(1), KOCHI

Both the learned representatives at the outset invite our attention to the CIT(A)’s lower appellate discussion upholding assessment findings.

We find during the course of hearing that the Assessing Officer had added sec.68 unexplained cash credits of Rs.22,57,100/- in assessee’s hands which stand upheld in the CIT(A)-NFAC’s lower appellate discussion as follows :

Learned counsel has filed assessee’s paper book running into 66 pages in support of his “price fluctuations” plea in spices market.

Learned DR fails to dispute that all of the said evidence(s) has nowhere been specifically refuted as per sec.250(6) of the Act.

Faced with this situation, we deem it appropriate in the larger interest of justice to restore the assessee’s instant appeal back to the CIT(A)-NFAC for it’s afresh adjudication, preferably within three effective opportunities of hearing, subject to the rider that it shall be the taxpayer’s onus and responsibility only to plead and prove all the relevant facts in the consequential proceedings. Ordered accordingly.