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2015 (9) TMI 1423 - AT - Income TaxValidity of assessment against non existing person - Held that:- CIT-A erred in not quashing the instant assessment framed on non existing person. CIT-A erred in not quashing the instant reopening being made in apparent violation of mandatory jurisdictional conditions stipulated under the law. CIT-A erred in not quashing the instant reopening made on basis of borrowed satisfaction, without independent application of mind and merely on information supplied by investigation wing and without any valid approval required under the law. Invalid addition u/s 68 for share application money etc. - Held that:- CIT-A erred in sustaining addition u/s 68 & 69C on account of alleged unexplained share application money and alleged commission paid on said share application money dehors the fact that: i. In enquiry, bank has confirmed the aforesaid transaction to Ld AO; ii. In enquiry, share applicant u/s 133(6) has confirmed the subject transaction to Ld AD as evident from para 3.1 of AO's order; iii. The adversarial statement never mentions assesee's name and hence not reliable for reopening and addition (lack of nexus & untested allegation); iv. Assessee has adduced all relevant and required evidence to discharge its onus u/s 68 of the Act; v. No visible effort is made by Ld AD to validly convert and translate stated directions of CIT-II (Central) into requisite findings;
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