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2021 (11) TMI 314 - ITAT SURATAddition u/s 69C - Unexplained purchase of shares - HELD THAT:- CIT(A) has invoked provisions of section 145(3) of the Act. We note that assessing officer has not discussed any of these documents and evidences in the assessment order. AO has not made any adverse finding in any of these documents, even though all the details were furnished by the assessee before him. AO ought to have examined all these details and refuted/rejected them, with a cogent adverse findings and discernable line of reasoning, in order to arrive at a conclusion. On the contrary, the assessing officer has just brushed aside these evidences and documents, submitted by assessee, without even a word on why they are not acceptable. It is a well settled Law that when an assessee has all the possible evidence in support of its claim, they cannot be brushed aside based on surmises. Hence we are not inclined to accept the contention of the Assessing Officer in any manner and hence the addition so made, is deleted. Hence these two grounds of the assessee are allowed.
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