https://www.taxtmi.com/caselaws?id=186806 The Revenue appealed against the deletion of additions made by the AO under section 68 for alleged accommodation entries. The CIT(A) deleted the addition of Rs. 95 lakhs, concluding it was received through the sale of shares and not subject to section 68. Consequently, the related commission addition of Rs. 47,500 was also deleted. The validity of reassessment proceedings under section 148 was upheld, but the admission of additional evidence by the CIT(A) was deemed improper as the AO was not given a chance to verify it. The Tribunal remanded the matter to the AO for fresh examination and verification of the additional evidence. en-us Fri, 17 Oct 2008 00:00:00 +0530 Sat, 01 Oct 2016 10:28:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186806 The Revenue appealed against the deletion of additions made by the AO under section 68 for alleged accommodation entries. The CIT(A) deleted the addition of Rs. 95 lakhs, concluding it was received through the sale of shares and not subject to section 68. Consequently, the related commission addition of Rs. 47,500 was also deleted. The validity of reassessment proceedings under section 148 was upheld, but the admission of additional evidence by the CIT(A) was deemed improper as the AO was not given a chance to verify it. The Tribunal remanded the matter to the AO for fresh examination and verification of the additional evidence. Case-Laws Income Tax Fri, 17 Oct 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186806