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2015 (11) TMI 1371 - AT - Income TaxDisallowance of increase in share capital and unsecured loans - CIT(A) deleted the addition - Held that:- The addition in the facts of the present case as far as increase in share capital is concerned was obviously limited to that portion of the source of increase in share capital which was found to be not genuine. The fact that the increase in share capital was over and above the addition is thus not relevant as its genuineness is not questioned by the AO. Thus that portion of the increase in share capital has necessarily to be excluded. Similarly if unsecured loans have not been explained, the addition on facts is warranted. It is further seen that the conclusion that in 2007-08 assessment year, amounts was repaid does not elaborate what is the evidence considered for arriving at the said conclusion since the impugned order is silent as the evidence taken into consideration the same cannot be sustained. The attempts of the ITAT to serve notice upon the assessee having failed has resulted that the assessee is also not in a position to throw light on these crucial aspects. Accordingly in view of the above reasons, the impugned order is set aside and the issues are restored back to the file to the CIT(A) with the direction to pass a speaking order in accordance with and if need to obtain a Remand Report from the AO after giving the assessee a reasonable opportunity of being heard. Since the facts, the circumstances and the grounds are identical in all the years except for the differences in amounts therefore, for similar reasons these appeals are also restored back after setting aside the finding arrived at in the respective impugned orders again back to the file to the CIT(A) with the direction to decide the same in accordance with law after giving the assessee a reasonable opportunity of being heard. - Decided in favour of revenue for statistical purposes
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