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2017 (2) TMI 1126 - HC - Income TaxUnexplained cash credit - proof of creditworthiness - failure in discharging the onus of proving the creditworthiness - additional evidence taken on record at the appellate stage to deleted additions - Held that:- In the matter of permitting additional evidence and thereafter in considering the same at the appellate stage, the Department through the assessing officer was granted reasonable opportunity to rebut the same and after considering various aspects of the matter, concurrent findings have been recorded by both the appellate authorities namely; Commissioner (Appeals) and the ITAT. Finding no error in not only accepting the additional evidence on record, but, also in analyzing the same and holding that the creditworthiness, trustworthiness of the credit transaction have been proved beyond reasonable doubt. The aforesaid is a concurrent findings of fact recorded by the both the appellate authorities, they are reasonable in nature and we find no reason to interfere into the aforesaid concurrent finding of fact. In our considered opinion, no substantial question of law arises for consideration. The judgments relied upon by Revenue are distinguishable on facts. They were cases where additional evidence was taken on record without granting proper opportunity to the assessing officer to rebut the same, whereas in these cases,we find that the additional evidence were placed to the notice of the assessing officer. The assessing officer did give his remand report on the same, did not raise any objection to its admissibility and it is only after granting of opportunity to the assessing officer that the orders in question have been passed. Accordingly, the judgments relied upon may not apply in the facts and circumstances of the present case. - Decided against revenue
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