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2019 (5) TMI 883 - AT - Income TaxAddition u/s. 68 of unexplained cash credit - share capital/premium - revenue contends during the course of hearing AO had rightly made the impugned addition as the assessee failed to prove the identity, genuineness and creditworthiness of its shareholders/investors/subscribers in issue - HELD THAT:- Revenue takes us through CIT(A)’s findings deleting the impugned addition and submits that the AO could not verify the assessee’s investor parties/subscribers during the course of assessment and therefore the CIT(A) ought not to have deleted the impugned addition in absence of such a vital factual verification. The assessee fails to dispute this clinching fact that the AO had not enable to verify the investor parties/subscribers for the purpose of genuineness and creditworthiness of the share capital/premium in issue. As relying on ITO V/s Primeline Sales P.Ltd [2019 (1) TMI 1562 - ITAT KOLKATA] we restore the matter back to the Assessing Officer for fresh adjudication after affording adequate opportunity of hearing to the assessee. - Revenue’s appeal is allowed for statistical purpose
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