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2015 (6) TMI 55 - AT - Income TaxUnexplained credits u/s 68 - assessee received share application money are providers of accommodation entries - CIT(A) deleted the addition - Held that:- In view of observations of the AO as well as CIT(A) we clearly note that the AO noted that the assessee expressed its inability to produce copies of IT Return and director or of Officer of the company which provided or contributed share application money and the CIT(A) in para 5.2 at page 16 observes that the assessee has furnished all the relevant details during the course of assessment proceedings and granted relief by relying of decision of Lovely Exports (2008 (1) TMI 575 - SUPREME COURT OF INDIA). Hence, we are unable to satisfy ourselves as to whether the assessee discharged its onus before AO to prove the identity of the third party or contributor which made payment, its creditworthyness and genuineness of the transaction on casted upon the assessee to escape from addition u/s 68 of the Act to presume that the onus is thus shifted to the Revenue to controvered explanation and supporting evidence and material filed by the assessee while discharging its onus as required as per ratio of the recent decision dated 19.02.2015 of Hon’ble High Court of Delhi in the case of CIT Vs. M/s Jasampark Advertising and Marketing (P) Ltd. [2015 (3) TMI 410 - DELHI HIGH COURT]. Thus sole issue require verification and examination at the end of the AO. Therefore, the sole issue is restored to the file of the AO for proper of adjudication after affording due opportunity of hearing for the assessee - Decided in favour of revenue for statistical purposes
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