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2021 (4) TMI 399 - ITAT DELHIDeemed dividend u/s 2 (22) (e) - HELD THAT:- From the perusal of the documents it can be seen that the assessee has received ₹ 2 lacs on 27/1/201 as refund of loan outstanding as on 1/4/2010 at ₹ 8,23,000/-. Balance of ₹ 2 lacs is an excess payment by mistake from Kohli State Pvt. Ltd. as per the submissions of the assessee before the Assessing Officer as well as before the CIT(A). The contention of the Ld. AR that the said amount was recovered on 31/10/2011 by recovering ₹ 5 lacs from the assessee was never examined either by the Assessing Officer as well as by the CIT(A) from the statement of account of the assessee, and there is no clear finding on that account by both the Revenue Authorities. Therefore it will be appropriate to remand back the entire issues to the file of the Assessing Officer for proper verification and after taking cognizance of all the evidences including statement of account, the Assessing Officer may pass appropriate order according to the provisions of law. Needless to say, the assessee be given opportunity of hearing by following principles of natural justice. Appeal of the assessee is partly allowed for statistical purpose.
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