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2015 (11) TMI 292 - AT - Income TaxUnexplained receipts of share application money - CIT(A) deleted the addition on the ground that the assessee had provided all the necessary details, including confirmation letters, share application forms, ward/circle where the share applicants/investing companies were assessed, and thus have discharged the burden of proof that lay on the assessee also the AO had made enquiries by issuing summons u/s 131 to the share applicants and that all the share applicants have replied to the summons and the AO had recorded statements from some share applicants also - Held that:- The assessee had discharged the onus that lay on it u/s 68 of the Act. The A.O. has not brought on record any adverse material to disprove the claim of the assessee. The factual finding of the Ld.CIT(A) could not be controverted by the Ld.D.R. Under these circumstances we uphold the order of the First Appellate Authority and dismiss this ground of the Revenue. - Decided in favour of assessee.
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