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2019 (7) TMI 1598 - AT - Income TaxBogus unsecured loans - loan creditors not been found at the addresses given by the assessee - CIT-A allowed relief to assessee - mandation fair opportunity to those who are parties in the controversy for correcting or contradicting anything prejudicial to their view - HELD THAT:- In the instant case, as mentioned earlier the assessee filed the details before the AO on 26.12.2016 which was received in the office of the AO on 27.12.2016. The AO completed the assessment on 30.12.2016. A perusal of the appellate order passed by the Ld. CIT(A) dated 27.06.2017 clearly indicates that reliance has been placed by him on the submissions by the assessee. The Ld. CIT(A) could have directed the AO u/s 250(4) of the Act to conduct proper inquiry of the details filed by the assessee. He has not done so. Thus following the ratio laid down in NRA Iron & Steel (P.) Ltd. [2019 (3) TMI 323 - SUPREME COURT] & Jansampark Advertising & Marketing (P.) Ltd. [2015 (3) TMI 410 - DELHI HIGH COURT] we set aside the order of the Ld. CIT(A) and restore the matter to the file of the AO to make an order afresh, after allowing the assessee to cross-examine the aforesaid parties. We direct the assessee to file the relevant documents/evidence before the AO. Needless to say, the AO would give reasonable opportunity of being heard to the assessee before finalizing the order. - Revenue appeal is allowed for statistical purposes.
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