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2019 (4) TMI 1369 - ITAT AHMEDABADAddition u/s 68 - loan received from Mrs. Laxmi R. - HELD THAT:- Assessee has furnished the bank statement, Form 26 AS and confirmation, the copy of income-tax return but the authorities below have not pointed out any defect in such detail filed by the assessee. In case, the details as discussed above were not believable, then the authorities below were empowered to verify the same to the concerned party, but none of the authority below has exercised power given under section 131/133(6). Once the assessee has submitted basic details of the party from whom he has taken a secured loan, then the onus imposed on the assessee u/s 68 was discharged. Therefore, without verifying the necessary details filed by the assessee, there cannot be any addition u/s 68 of the Act. See MURLIDHAR LAHORIMAL VERSUS COMMISSIONER OF INCOME-TAX. [2005 (11) TMI 32 - GUJARAT HIGH COURT] - no addition can be made in the hands of the assessee u/s 68. Hence, we set aside the order of the CIT(A) and direct the Assessing Officer to delete the addition made by him. Thus, the ground of appeal of the assessee is allowed.
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