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2018 (5) TMI 955 - AT - Income TaxAddition on account of unexplained cash credit - Held that:- Findings of the A.O. may not be appropriate to reject the explanation of assessee particularly when the lender has confirmed the transaction with the assessee directly to the A.O. in response to the notice under section 133(6) of the I.T. Act. These facts, therefore, shows that one more opportunity could be given to the assessee to produce the creditor before A.O. for examination. We, accordingly, set aside the orders of the authorities below and restore the matter in issue to the file of A.O. with a direction to redecide the issue on merits in accordance with law. - Decided partly in favour of assessee for statistical purposes.
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