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2016 (2) TMI 467 - AT - Income TaxAddition u/s 69A - CIT(A) deleted the addition made by the AO - Held that:- It is clear that the Assessing Officer failed to establish any case against the appellant. The impugned order does not throw any light on any inquiry/investigation carried out by the Assessing Officer that could corroborate the entries found in the seized material and justify the additions made in the case of the assessee. Further inquiry/investigation, was required to be carried out on the information passed by the DCIT, Central Circle 19, New Delhi, but apparently no worthwhile or cogent work was done towards this end. In the second round of assessment proceedings, the said persons during the cross examination has denied any sort of dealings with the assessee and in fact has even failed to identify the assessee. They have furnished their duly sworn affidavits deposing these facts(supra). No direct of corroborative evidence could be discovered by the ld.AO from the assessee's possession, which could substantiate the alleged addition. It is not at all the case where the assessee has made an unexplained investment of cash. The Assessing Officer merely summarized the salient features of the assessment proceedings relating to Shri Brij Mohan Gupta and thereafter summarily rejected the reply of the assessee as 'not acceptable'. Therefore, the Assessing Officer was not justified in making the addition of ₹ 20,00,000/-. - Decided against revenue
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