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2012 (6) TMI 709 - AT - Income TaxAcceptance of additional evidence by CIT(A) when sufficient opportunities were afforded to the assessee during the assessment proceedings - Held that:- As the assessee for the first time before the CIT(A) has stated that she had entered into agreement for purchase of land the same was sent to the AO for his remand report - As per the AO the copy of agreement of sale, cancellation of sale agreement and subsequent cash transaction of Rs. 14 lacs was not reliable and it was only a cooked up story to establish the genuineness of source of cash deposit of Rs. 14 lacs in the bank account. However, the ld. CIT(A) has deleted the addition without controverting these observations of the AO in the remand report nor given any finding with regard to availability of cash of Rs. 14 lacs with the assessee, which was alleged to be given as advances for purchases of land - Merely by pointing out fault in AO’s action and without controverting the findings of Assessing Officer and without giving any positive finding, CIT(A) has deleted the addition, which is not justified - set aside this ground also to the file of AO for deciding afresh - in favour of revenue. Addition in respect of unexplained cash credit - Held that:- As regard cheque received against cash credit, cheque was issued out of Bank account of HUF and assessee has also furnished PAN numbers and also confirmation of the loan creditor to prove not only identity but the genuineness of transaction as well as creditworthiness of the loan creditor. As the assessee has discharged his primary onus, the Assessing Officer was not justified in making addition - in favour of assessee. Addition being unexplained investment in the purchase of the property - Held that:- As the extent of Bank finance to purchase the property has already being accepted by AO and nothing was asked from him in the remand proceedings nor he has given any of the remarks in the remand report. While deleting the addition, CIT(A) has not given any positive finding as to the source of income as added by the AO. The CIT(A) has simply stated regarding amount invested in the property and the loan taken from the Bank, which was already accepted by the AO - set aside this ground also to the file of AO for deciding afresh.
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