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2017 (8) TMI 190 - HC - Income TaxAddition u/S 68 and u/s 69C - Held that:- In the present case the burden was not discharged by the Assessee. According to him, the CIT (A) failed to notice that the AO had in fact conducted the enquiry and it is the Assessee who is unable to furnish a satisfactory explanation for the credit entries in his account. The Court is unable to agree with the submissions of Mr. Chaudhary. The order passed by the CIT (A) is a reasoned one. It correctly notes that once the Assessee produced the agreement to sell entered into with CCRP, the onus shifted to the AO to make a further enquiry by summoning the directors of CCRL to determine whether the explanation offered by the Assessee was tenable. As further noted by the CIT (A), the AO failed to furnish to the Assessee a copy of the statement of Mr S. K. Gupta, which formed the main basis for making the additions. Mr Gupta was not even offered for cross-examination.
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