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2023 (7) TMI 1039 - AT - Income TaxUnexplained cash credit u/s 68 - Onus to prove - HELD THAT:- It is not in dispute that the assessee has furnished the name and address of the lender, bank statement of the lender and confirmation of the lender before the lower authorities. The lender is situated in Ghaziabad, which is far away from the place of assessee and, hence, explanation given by the assessee that the lender could not be produced before the AO during the course of original assessment proceeding, deserves to be accepted. It is a fact on record that the assessee, indeed produced the lender for examination before the learned Assessing Officer during the remand proceedings, on which date, the AO was on official duty elsewhere and hence, the lender had handed over all the requisite materials in her possession to the assessee and the assessee had in turn furnished the same before the learned CIT(A). We also find that the learned AR has furnished affidavit from the lender duly confirming the fact of advancement of loan to the assessee by also explaining the business carried on by her. Assessee has also furnished the copy of income tax return acknowledgment of the lender for assessment year 2013-14, wherein, the lender had disclosed taxable income - However, the affidavit and the income tax return acknowledgment were placed for the first time by the assessee before this Tribunal. Since these evidences are crucial for adjudication of the issue in dispute before us, the same are hereby admitted and taken on record. Assessee had duly discharged her initial onus of providing the name, address, PAN and bank statement of the lender and confirmation of the lender. Assessing Officer had not sought to make any verification of these evidences filed on record by either issuing notice under section 133(6) of the Act or issuing summons to the lender under section 131 of the Act for recording the statement on oath from the lender. Instead, learned Assessing Officer completely shifted the onus on the assessee to produce the party before him for examination. We are unable to comprehend ourselves to accept this behavior of learned Assessing Officer as the assessee, in the instant case, had duly discharged the initial onus cast upon her. Assessing Officer has drawn adverse inferences on the assessee without making any independent examination from his side. - Decided in favour of assessee.
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