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2014 (1) TMI 1621 - ITAT DELHIAddition to income - unexplained refundable security deposit received by the assessee from his employees at the time of joining the employment and unexplained loans - Held that:- A perusal of the impugned order juxtaposed with the written submissions filed by the assessee shows that the grievance of the assessee is justified. In the written submissions, the assessee has specifically stated that the employees/persons from whom the earnest money was received, were not employed with the assessee at the time of the hearing before the A.O., as the assessee had closed its business during Assessment Year 2008-09 and the Assessing Officer had not given proper opportunity to the assessee for causing the appearance of these employees/persons. This aspect of the matter has not been gone into by the Ld. CIT (A). The assessee has also submitted that the amounts had been refunded to the employees/persons at the time of full and final settlement and the addition made by the Assessing Officer includes an opening balance of ₹ 4,20,000/- from friends and relatives of the assessee, which does not relate to the year under consideration. It was also stated that the assessee had no balance outstanding of the employees/persons, as all the amount had been refunded to them and no person was, at the relevant time, traceable, having left the employment of the assessee on the closure of its business during the year. This aspect also does not find mention, much less adjudication in the impugned order. The assessee has further stated that all the bills and vouchers and related records were made available before the Assessing Officer for verification purposes. Again, the Ld. CIT (A) makes no comment. Thus remit this matter to the file of the Assessing Officer for decision afresh in accordance with law, on affording due and adequate opportunity of hearing to the assessee - Decided in favour of assessee for statistical purposes
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