Assessing Officer made addition under section 68 in respect of loans received from\u00a0 Magunta exports om the ground that lender has filed nil return . On appeal the CIT( A)\u00a0 accepted all conclusions of Assessing Officer and rejected appeal . On writ the Court held that\u00a0 since there was nothing to indicate that appellate authority independently applied its mind while drawing conclusions, impugned order was to be set aside and matter was to be remanded back to appellate authority for disposal afresh . \u00a0Court also held that the conclusions were in the nature of ipse dixit and no supporting reasons were discernible . \u00a0\u00a0(AY. 2020-21)(SJ)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 250 : Appeal – Commissioner (Appeals) \u2013 Non-speaking order – Procedure Cash credits \u2013 Un secured loan from Magunta exports \u2013 Return showing nil income \u2013Duty of CIT(A) \u2013 Duty to give reasons for order – Conclusions were in the nature of ipse dixit and no supporting reasons were discernible – Order of CIT(A) confirming the addition is set aside \u2013 Matter remanded to the file of the CIT(A). [ S. 68, 115BBE, 250, Art .226 ] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-48173","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-cwZ","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/48173","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=48173"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/48173\/revisions"}],"predecessor-version":[{"id":48174,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/48173\/revisions\/48174"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=48173"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=48173"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=48173"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}