Saturday, 4 June 2016
No Penalty can be levied for unexplained expenditure assessed on the basis of DVO Report
Sathe Biscuits 148 TTJ 10 (Pune)
Just as it is not open to the Assessing Officer to not complete the assessment by allowing the assessee to withdraw its return of income, it is not open to the assessee in appeal to withdraw and/or the CIT(A) to dismiss the appeal on account of non-prosecution of the appeal by the assessee. - Bombay High Court there fore concluded in Premkumar Arjundas Luthra (HUF) [2016] 69 taxmann.com 407 (Bombay) dtd 25-04-2016
1.
As per Section 250(4), CITA is obliged to make such further inquiry that he
thinks fit or direct the Assessing Officer to make further inquiry and report
the result of the same to him
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