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2023 (3) TMI 460 - AT - Income TaxAddition u/s 68 - accommodation entries of unsecured loans were provided to assessee - discharge of onus - HELD THAT:- There is no dispute that the assessee has discharged its burden placed upon it u/s 68 of the Act by furnishing all relevant documents. As pointed out by Ld CIT(A), the AO has not found fault with those documents. We also noticed that two creditors have responded to the notices issued by the AO u/s 133(6) but the AO has refused to consider them at all. Hence, it appears to us that the AO was swayed by the generalised findings given by the investigation wing and hence did not proceed the matter on the merits of each case. Hence,we have to hold that the AO has made the impugned addition on suspicions, surmises and conjectures only. We have also gone through the decision rendered in the case of M/s Pravir Polymers p Ltd [2022 (4) TMI 1501 - ITAT MUMBAI] and notice that the decision has been rendered in that case on the basis of peculiar facts available therein. In the absence of parity facts, we are of the view that the said decision will not have application to the present case. CIT(A) was justified in deleting the addition - Accordingly, we confirm the order passed by him on this issue. Decided in favour of assessee.
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