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2017 (10) TMI 1567 - AT - Income TaxAddition u/s 68 on account of loan received - notice issued u/s 133(6) was returned unserved - whether the identity, creditworthiness of the party and genuineness of the transaction have been proved? - HELD THAT:- As the assessee has filed confirmation of loan which is placed at paper book duly signed by the AR of the lender company besides, PAN, and other evidences and copy of ledger account of the assessee in the books of the lender company was filed duly attested by the authorized signatory of the company as placed at paper book with the income tax return and final accounts of the lender. We are of the view that the matter requires further verification at the end of AO of all these evidences and therefore it would be fair ,reasonable and in the interest of justice to restore the matter to the file of the AO to examine all these evidences and in the light of said frame the assessment denovo as per facts and law after providing necessary opportunity of being heard to the assessee. Appeal of the assessee stands allowed for statistical purposes.
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