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2015 (4) TMI 44 - AT - Income TaxBlock assessment - Assessment u/s 158BD r.w.s. 158BC - addition on Unexplained loan and unexplained expenditure u/s 69C - absence of satisfaction note - Held that:- After examining the record, CIT(A) came to conclude that though the satisfaction note was recorded by the Assessing Officer yet a copy of the same has not been provided to the assessee. Therefore, in the aforesaid factual background, following the parity of reasoning laid down in the case of Janki Exports International (2004 (3) TMI 21 - DELHI High Court ) as well as M/s Bhagyashree Steel Center [2015 (4) TMI 82 - ITAT PUNE], we setaside the impugned orders of the lower authorities and restore the matter back to the file of the Assessing Officer who shall supply the reasons recorded for arriving at the satisfaction for invoking section 158D of the Act to the assessee. On receipt of such reasons, assessee shall be entitled to file objections which shall be disposed-off by the Assessing Officer by way of a speaking order and only thereafter he shall proceed to pass a fresh assessment order in accordance with law. Since we have set-aside the matter back to the file of the Assessing Officer on the preliminarily ground, the merits of the impugned addition of ₹ 39,55,062/- have not been examined by us, which would be re-visited by the Assessing Officer in accordance with law in the ensuing proceedings. - Decided in favour of assessee for statistical purposes.
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