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2017 (7) TMI 66 - AT - Income TaxAddition u/s 68 - assessee has not complied with the direction given by him to prove the net credit balance as on 31st March, 2005 - Held that:- It is the submission of the Ld. Counsel for the assessee that the assessee has not received any amount from Shri Prakash Basrani as secured or unsecured loan and infact the assessee has paid the amount to Shri Prakash Basrani and therefore proof of the capacity of the said person does not arise. It is also his alternative submission that the matter be restored to the file of the Assessing Officer with a direction to give one more opportunity to the assessee to produce the said person before the AO to substantiate her case. We find merit in the alternate argument of the Ld. Counsel for the assessee. We deem it fit and proper to restore the issue back to the file of the Assessing Officer with a direction to give one more opportunity to the assessee to substantiate her case and produce Shri Prakash Basrani before the Assessing Officer for his examination. The Assessing Officer shall decide the issue as per law and fact after giving due opportunity of being heard to the assessee.
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