1981 (9) TMI 190

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....er of the Commr., it is seen that there was capital accumulation between the financial years 1965-66 to 1974-75. The assessee furnished the source of the funds to have been out of the initial capital, sale of cycles, income from salary and sale proceed of shop. The Commr. noted that no proper evidence appeared to have been led regarding the existence of the shop, dairy business and sale of cycles ....

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.... make normal inquiries in respect thereof. Accordingly, the Commr. held that the order of the ITO was erroneous and prejudicial to the interest of revenue for failure of the ITO to make proper inquiries. He, therefore, set aside the assessment order with the direction to the ITO to make fresh assessment. 4. It is submitted on behalf of the assessee that there was no question of assessee's failu....

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....mr. the assessee had even volunteered to furnish further evidences and was ready to produce the persons concerned before the Commr. to meet the points. It is also the appeal of the assessee that the Commr. has not given due consideration to the various aspects of the assessee's case made before him. It is argued, therefore, that the order of the Commr. may be set aside. 5. On behalf of the Reve....

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....essee in response thereto did sent various information and the details in respect thereof. The Commr. set aside the order of the ITO for making further inquiries as, according to him, whether the assessee could have established the impugned sources of income which made up the capital accumulation, was an open question as the ITO did not make normal inquiries. As mentioned briefly above, the ITO di....