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2017 (6) TMI 1152 - AT - Income TaxAddition of return of share application money - Held that:- Revenue has nowhere doubted the fact that the funds flew towards the said concern through the very same bank account of the assessee. Thus find that the occasion to consider and ponder on the issue why its premises after a few years were found to be locked is not a relevant issue for the purposes of the present case. As noted the third party evidence showing flow of money to the said concern by way of the Bank statement of the assessee and again the flow back by RTGS from M/s D.U. Securities Pvt. Ltd. to the very same bank account where existence of M/s D.U Securities Pvt. Ltd. is not in doubt and the consistent unrebutted explanation that it was for share application money all fully support the claim of the assessee. Accordingly, in the afore-mentioned peculiar facts and circumstances, find that the addition on facts has wrongly been made and sustained and accordingly is directed to be deleted. - Decided in favour of assessee. Claim of sale of jewellery - Held that:- Considering the fact that the written submissions dated 16.08.2013 were filed before the CIT(A) as part of which have been reproduced in page 4 of the impugned order while considering the first ground it is also seen that it is accompanied by an affidavit of Smt. Santosh Devi, W/o-Late Sh. Dwarka Das, Aged 65 years and R/o-1/5265. Balbir Nagar, Shahdara, Delhi-110032 affirming the fact that ornament weight 440 grams was gifted by her to her son-in-law on 10.02.1989 i.e. date of his marriage anniversary. The said affidavit is dated, attested and notarized on 25.03.2013. There is nothing on record to rebut the fact that the specific jewellery was not sold to M/s Gupta Jewellers P.Ltd. whose M.D. as per the claim of the assessee itself was produced for cross-verification before the AO. This assertion of fact in the assessment order also stands unrebutted. In these circumstances, find no justification for denial of assessee’s claim. Being satisfied by the consistent explanation offered and supported by affidavit of the donor on record alongwith copy of the Bill of M/s Gupta Jewellers Pvt. Ltd. through whom the jewellery was sold, I find that the addition on facts has wrongly been made and sustained. Accordingly, the addition is directed to be deleted.- Decided in favour of assessee.
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