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2017 (7) TMI 1376 - ITAT MUMBAIUnexplained loan - addition u/s 68 - assessee could not produce the confirmation from the said party - CIT-A deleted addition - D.R. submitted that the Ld. CIT(A) has allowed the appeal without verifying the creditworthiness, genuineness of the transaction and identity of the creditor, therefore, matter may be restored to the AO to verify the same - HELD THAT:- We find that during the course before the Ld. CIT(A), the assessee has submitted own bank statement reflecting the said payment, ledger account of lender and balance confirmation but Ld. CIT(A) has not called for the remand report or the Ld. CIT(A) has not verified these details. The Ld. CIT(A) has, simply relying upon the judgment of Nemi Chand Kothari vs. CIT [2003 (9) TMI 62 - GAUHATI HIGH COURT] deleted the addition. Therefore, we reverse the finding of Ld. CIT(A) and restore this matter back to the file of AO and the AO is directed to decide the matter afresh, as per law. Appeal of the Revenue is allowed for statistical purposes.
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