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2013 (11) TMI 227 - ITAT AHMEDABADCondonation of delay – Held that:- Inordinate delay in filing the appeal before the Tribunal in the present case is said to have happened due to laxity on the part of one of the staff of office of the Chartered Accountants who is engaged by the assessee. Considering the entire facts and circumstances of the case, in order to advance substantial justice, a liberal presumption is to be made to the above submissions of the assessee that the delay is beyond its control, and reasonable cause for condonation of the delay, more so, when the affidavit filed by the staff of the counsel of the assessee has not been doubted by the Revenue – Decided in favor of Assessee. Additions u/s 68 of the Income Tax Act - Impugned transaction is 'cheque badli' transaction – Held that:- Shri Bholabhai Kakiya, has not responded to the notice under section 133(6) issued by the AO, and the AO has noted that neither any reply nor any evidence was filed by the assessee to prove that the impugned transaction is genuine, and hence remained unverifiable. The additional evidences such as PAN card and the bank statement of Shri Bholabhai with Progress Mercantile Co-op. Bank were not before the AO at the time of finalization of the assessment. Nevertheless, the CIT(A) has not found the same to be satisfactory to explain genuineness, identity and credit worthiness of the cash transaction undertaken by the assessee – Since the assessee has stated that the AO has not given proper opportunity to furnish further evidences in this regard, it is proper to give one more opportunity to the assessee to furnish all the details and evidences in respect of the impugned loan of Rs.33,01,000/- taken from Shri Bholabhai Kakiya – Issue remanded to the file of AO.
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