Answers On Topic: cross examination
Assessee is jewellery and sold jewellery to Mr. A of Rs. 5 lakhs , Who is director of ABC co . In the assessment proceedings of ABC co it is found that cash has been deposited in Bank account of ABC co and payment has been given by RTGS from account of ABC co to assessee. Ao of ABC co intimated the said information and statement of Mr.A that transaction with assessee of purchase of jewellery is accomodations entry. On the basis of this information assessee case was reopened u/Sec. 147 and Addition of Rs. 5lakhs is made U/Sec. 68…
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Assessee is lady who purchase a shop from the developer. During the search action with the developer certain loose papers found which include receipt of cash payment signed by husband of the assesee. Which states that amount is paid against purchase of of some flat and number of flat is also mentioned . Assessee submitted that said flat is not purchased by the assessee and also submitted the evidence in support of the same by producing the index II which shows that the said unit is purchase by other person. AO has issued show cause to tax said amount in…
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Assessee has purchase flat from developer. During the course of search at the premises of developer one excel sheet was found in which data regarding name of person flat no, agreement value and cash consideration was mentioned. Accountant and developer accepted in the statement recorded that they have collected on money from flat purchasers. Developer went to settlement commission and also submitted about on money as source . Assessing Officer has issued notice u/sec. 153C for 6 years to assessee on this information. Assessee has filed the returns in response to notice U/sec. 153C of the Act and submitted that…
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Case of the assessee was reopened on the basis of third party information. The assesse asked opportunity to cross examination. But the same was rejected by the AO stating "Since the third party is a resident of Mumbai therefore the AO st Raipur is not empowered to issue summons to the above person so as to accord an opportunity of cross examination." Is there any case law in favour of above contention of AO. If yes, kindly quote the same. Also, any case law rejecting the above facts of the AO is welcomed.
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Sec 68 of the Act