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2011 (11) TMI 474 - HC - Income TaxUndisclosed income - addition in share capital - Tribunal restored file to AO to re-examine additions - Revenue challenged such restoration on ground that assessee was unable to provide identity of share holders and creditors - Held that:- Material on record, reveals that on a test check basis, only 68 notices were sent, out of which, 12 persons responded and applications had been made through the channel of banks. Therefore in such circumstances, construing the entire amount as unexplained investment and making addition of total share application money to tune of Rs 8.20 crores is not a sustainable act. Thus, Tribunal was justified in providing an opportunity assessee to establish the initial burden of proving the identity of the shareholders. Unsecured loans - assessee furnished PAN of parties except one party - Held that:- Since matter has been remanded to file of AO in respect of first issue hence, this decision of remanding the matter by availing one more opportunity to the assessee respondent, is also not interfered with - Appeals dismissed
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