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2021 (2) TMI 66 - AT - Income TaxAddition u/s 68 - procurement of accommodation entries through share application money from non-descript companies - CIT- A deleted the addition - DR submitted that the CIT(A) was not correct in admitting additional evidence under Rule 46A without giving proper justification and has not given adequate opportunity and totally ignored the remand report given at the appellate proceedings by the Assessing Officer - HELD THAT:- Inspector Report has clearly stated the wrong address and therefore, the same will not prove the case of the Department that the share applicant parties were not properly examined. The CIT(A) has taken into account all the evidences and has confronted the same to the Assessing Officer for which remand report was filed by the Assessing Officer. We find that the Assessing Officer chose not to consider the evidences on merit and simply stated that these parties were not found. Thus, the assessee in our opinion has proved the genuineness, identity and creditworthiness of these parties. The case of the sister concern in Superb Developers [2018 (7) TMI 827 - ITAT DELHI] has also dealt with some of the parties involved in the present assessee’s case. Thus, the parties mentioned in present assessee’s case were held genuine, creditworthiness and its identity was also accepted in case of Superb Developers (supra). We further observe that each and every case law cited by the Ld. DR also highlights the point that the genuineness, identity and creditworthiness of the share applicant parties have to be established by the assessee. In the present case, the same has been done by the assessee. Therefore, the onus was discharged by the assessee company which was properly taken into account by the CIT (A). Thus, the order of the CIT(A) does not require any interference and appeal of the Revenue is dismissed.
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