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2019 (6) TMI 919 - AT - Income TaxReopening of assessment - addition u/s 68 in respect of share capital received under foreign direct investment (FDI) group - HELD THAT:- CIT(A) had ignored various submissions and documentary evidences filed by the assessee before the AO as well as before him and had not given any finding with regard to those evidences on merits. Assessee has filed documents to prove the identity and creditworthiness of the shareholders and genuineness of the transaction like Names of permanent account members alongwith copy of PAN card, addresses of domestic shareholder as well as Mauritius shareholder, Form FCGPRs filed with RBI for investment by Mauritius shareholder in the assessee company together with the following details in relation to Mauritius shareholder i.e. certificate of incorporation, tax residence certificates, audited financial statements, Copy of return of allotment filed by the assessee with Registrar of Companies and Copy of bank statements of Mauritius shareholder as well as the assessee company We find that these documents were not considered by the CIT(A) while disposing off the appeal for the A.Y.2008-09. Hence, in the interest of justice and fair play, we deem it fit and appropriate to remand this appeal to the file of the CIT(A) for denovo adjudication of the entire issues - Decided in favour of assessee for statistical purposes.
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