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2017 (9) TMI 247 - AT - Income TaxAddition u/s 68 on account of unexplained sources - proof of identity and creditworthiness and the genuineness of the Companies - discharge of burden of proof - non cooperation by assessee - exparte qua assessee - Held that:- AO has passed assessment order u/s 143 by holding that assessee has failed to discharge the burden cast upon it to satisfy the genuineness and creditworthiness of the companies passed order u/s. 143(3) of the Act by assessing the income of the assessee at ₹ 2,46,51,592/-In view of evidence filed by the assessee, the onus had shifted to the AO, but the AO has not been able to controvert the evidence filed by the assessee. In view of aforesaid discussions, we are of the considered view that the assessee remain non-cooperative before the AO and did not file requisite documents before the AO, as asked by him and as a result thereof,we are deciding the present appeal exparte qua assessee and the AO did not verify the documents furnished by the Assessee and also not done the independent inquiry and verification properly. Therefore, we think it proper to set aside the issue in dispute to the file of the AO to decide the same afresh, after making independent inquiry and verification, as deem fit. However, the Assessee is also directed to submit all the necessary documents, as asked by the AO during the assessment proceedings and fully cooperate with the AO and did not take any unnecessary adjournment. Accordingly, the issue in dispute is set aside to the file of the AO with the aforesaid directions. Appeal filed by the Revenue allowed for statistical purposes.
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