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2019 (3) TMI 1291 - AT - Income TaxReopening of assessment - Addition u/s 68 - AO based on the information issued from the Investigation Wing that the assessee has received amounts from the entry operator - HELD THAT:- AO, except preparing the table of alleged accommodation entries from the details claimed to have been received from the Investigation Wing, has not at all applied his mind. From a bare perusal of the table of the alleged accommodation entries, it is evident that the share capital shown to be received is much more than the share capital, reserves and surplus reflected as per the balance sheet. Further the payments were treated as receipts. No primary independent enquiry has been conducted by the Assessing Officer which goes to prove that this is a case of non-application of mind by the Assessing Officer. Hence keeping in view the entirety of the facts and circumstances of the case and the propounded legal propositions, we hereby confirm the order of the CIT(A). Any decision on the merits of the case would be only be academic in nature and hence not being adjudicated. - Decided against revenue.
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