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2015 (10) TMI 536 - AT - Income TaxUnexplained cash credits - CIT(A) deleted the addition - Held that:- CIT (A) while deleting the addition in respect of the addition made on account of loan from Ankur Diamond has noted that Ankur Diamond is a creditor for goods of M. Kantilal & Co., of which assessee is a partner and that the amount of credit is fully explained and is only a book entry. However before us no material in the form of evidence like copies of bill, ledger account as appearing in their respective books etc. has been placed on record by assessee which could get support to the findings of Ld. CIT (A). Similarly in respect of deletion of addition of amount received from Megh Mayur Reality Pvt. Ltd., CIT (A) has held that the entry is from sale of land and is fully explained. We however find that apart from other details which could support the findings of Ld. CIT (A) the translated copy of sale deed is not on record. With respect to loan of ₹ 2,00,50,000/- from Dhirubhai Savani, on pursing the copy of Balance sheet of Dhirubhai Savani, which has been placed at page 31 of the paper book, it is seen that the amount is stated to be receivable from “Pravinbhai M. Patel”. There is no material on record to show that whether Pravinbhai M. Patel that is reflected in the Balance sheet of Dhirubhai Savani refers to the assessee or it refers to some other person. Considering the totality of the aforesaid facts and more so the indifferent approach of the assessee, we are of the view that the issue with respect to the addition of the aforesaid parties needs to be reexamined at the end of the Assessing Officer. - Decided in favour of revenue for statistical purposes.
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