Itat matter
Mohan Krishan
(Querist) 10 December 2019
This query is : Resolved
The ITAT has sent back the matter to the ITO with specific wordings saying that he should take details of capital gains concerning mutual funds, stock trading and F&O and do his assessment accordingly.
My query is - if the ITAT order is very specific in the wordings (i.e., talking only about Stock-trading, F&O and Mutual Funds), can the ITO / AO go beyond the said parameters and seek information relating to bank account, house purchase, audit of accounts, etc, etc ?
Raj Kumar Makkad
(Expert) 10 December 2019
The order of ITAT is wellwithin its jurisdiction specifying further action to be initiated on the part of ITO.
Mohan Krishan
(Querist) 11 December 2019
Mr Makkad... Thanks for your reply. I agree that the ITAT's order is correct. But my query was something else. What I sought to know was whether the ITO can go beyond what has been told to him in the ITAT order? Thanks.
Mohan Krishan
(Querist) 11 December 2019
Dear Mr Makkad, I am reproducing what notice the ITO has sent to me.
Honorable ITAT vide order in... has set aside the case of AY 2007-08 and restored to the file to AO with the following directions: "that it is a fit case to set aside the impugned order and to remand the matter to the file of the AO for having a fresh look at the issues after affording opportunity to the assessee to produce all the details of intraday trading, futures and options, mutual funds and LTCG & STCG in mutual fund and shares during the year and on such production of this information, the learned AO shall proceed to assess the income of the assessee as per law". In view of the above, you are required to furnish all the details of intraday trading, futures and options, mutual funds and LTCG & STCG in mutual fund and shares during the year under consideration for AY 07-08 alongwith supportings of your claim before me on this date at 11 am. This may be trated as notice u/s 142(1) of the act and complied accordingly.
KISHAN DUTT KALASKAR
(Expert) 12 December 2019
Dear Sir,
Normally if the order is specific then ITO cannot go behind it. However, if such other matters and documents related to then he may ask you to produce some more documents which he feels necessary in the given circumstances of the case.
