2017 (8) TMI 190

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....iling the appeal is condoned. The application is disposed of. ITA 475/2017 2. This is an appeal by the Revenue against the order dated 2nd September, 2016 passed by the Income Tax Appellate Tribunal ('ITAT') in ITA No. 6251/Del/2015 for the Assessment Year ('AY') 2005-06. 3.The Revenue is aggrieved by the concurrent findings of the Commissioner of Income Tax (Appeals) ['CIT (A)'] as well as the....

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....ings, the Assessee claimed to have received Rs. 60 lakhs from CCRL through account payee cheque in terms of an Agreement to Sell dated 5th June, 2004. The stand of the Assessing Officer ('AO') was that the Assessee did not furnish any evidence regarding credit worthiness of CCRL. The AO held that the Assessee had failed to rebut the admission by Mr. S.K. Gupta that he was providing accommodation e....

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....d on the information provided by Mr. S. K. Gupta. 7. The CIT (A) also accepted the explanation offered by the Assessee that it had received the above sum from CCRL pursuant to an agreement to sell. The CIT (A) noted that since the Assessee has produced the copy of agreement to sell, the onus has now shifted from the Assessee to the AO. However, the AO has made no attempt to disprove the agreement....

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....efore the ITAT. The impugned passed by the ITAT reveals that no one appeared on behalf of the Revenue when the appeal was taken up for hearing. The ITAT was constrained to observe in paragraph 5 that notice having been issued to both the parties, no representative of the Department appeared nor filed any application for adjournment. Nevertheless, the ITAT examined the merit of the case itself and ....