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2019 (8) TMI 55 - AT - Income TaxAddition u/s 68 - unsecured loans - confirmation was not provided as lender was expired - HELD THAT:- Subject loan from Shri Paras Ram Khatri and Vineet Poddar was taken in the assessment year 2010-11, and the revenue has not rebutted the submissions. Moreover, Ld. CIT(A) recorded the fact that bank statement was enclosed to prove that the money was credited into the bank account on 14.9.2007. In respect of loan of ₹ 5,25,000/-, it is stated that the amount was received during the year under consideration by way of account payee cheque but the confirmation could not be obtained due to untimely demise of the lender. Hence, looking to the peculiarity of the facts and more particularly when the A.O. has not made any enquiry regarding demise of the lender and the money credited in the account during the assessment year 2010-11 as claimed by the assessee. The issue is restored back to the A.O. to decide it afresh after making proper enquiry. The assessee would cooperate in the proceedings before the A.O. The grounds raised in the appeal are allowed for statistical purposes.
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