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2017 (7) TMI 916 - AT - Income TaxValidity of order u/s. 153C - Held that:- In the instant case, it is not the case of the assessee that the documents seized from the premises of searched person did not belong to assessee, rather the said document, i.e., sale deed unequivocally shows the purchase of property mentioned therein, by the assessee. It is also an admitted fact that the AO of searched person and that of the assessee is one and the same. Therefore, in view of the above decision of Hon’ble jurisdictional High Court, and in peculiar facts and circumstances of the present case, the impugned order u/s. 153C of the Act cannot be said to be legally invalid or without jurisdiction. Hence, this issue is decided against the assessee. Unexplained share application money and unsecured loans - admission of additional evidence - Held that:- In the remand proceedings, the AO has made no comments on the authenticity of these evidences, but commented only on their admissibility u/r. 46A. The additions have also been made without any material unearthed during any enquiry from the creditors. In the totality of all these facts, in our considered opinion, the assessee should be given one more opportunity to substantiate its claim before the AO by laying cogent evidences in support. We accordingly remit the issue back to the Assessing Officer for examining the confirmations of the creditors and to decide the matter afresh after making thorough enquiries as he thinks fit. Needless to say, the assessee shall be given reasonable opportunity of being heard and the assessee is directed to render full cooperation to the AO. Accordingly, the appeal of the assessee is partly allowed for statistical purposes.
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