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2021 (7) TMI 792 - AT - Income TaxValidity of reopening of assessment u/s 147 - assessee raised the contention that the reopening was done on mistaken identity - HELD THAT:- The name of the assessee is Shri Dholan Das and not Shri Dholu Mal. This issue has been discussed by the A.O. in detail and held that the assessee agreed and confirmed that both the names are of same person. Reopening was done on borrowed satisfaction and Shri K.K. Khilnani, on whose statement, they relied upon, never mentioned the name of the assessee - AO recorded the reasons for reopening and also provided the copy of the same to the assessee. The objections raised by the assessee were dealt by the A.O. in the assessment order. The assessee demanded the copy of the statement of Shri K.K. Khilnani which was also provided by the A.O. to him. The A.O. had also provided opportunity to the assessee to cross examine Shri K.K. Khilnani, but the assessee did not avail the opportunity of cross examination. In view of the above facts and circumstances, we are of the considered view that ld. CIT(A) has passed a well-reasoned speaking order discussing all the material facts. The ld. AR has not brought out any new material to controvert the findings recorded by the ld. CIT(A) qua violation reopening the assessment. Unexplained income - violation of the provisions of section 269SS of the Act warranting penalty proceedingsu/s 271D - HELD THAT:- Both the provisions of Act i.e. Section 68 & 69 are not applicable in the present case. As Section 68 of the Act comes into operation only when `no satisfactory explanation’ is coming forth in respect of the cash credit found recorded in the books. In the present case, however, no such credit entry is recorded as evident from the books. Thus this section is not applicable in this case. Again, Section 69 of the Act is not applicable in the present case as the assessee was never found in 'possession' of such sum at any stage in any manner. Thus both the provisions of law are not operative in the present case. Copies of the alleged 'Prints Outs' received from the Investigation Wing, Ahmedabad and forwarded to the assessee subsequently in the assessment proceedings were 'deaf and dumb document' for all the purposes and had carried no evidentiary value in absence of the 'corroborative evidences'. Number of vital details like 'Dates of Payments' & 'Re-payments' of the funds under consideration, the 'Money Receipts' acknowledging the receipt and re-payment of these funds, 'Final Destination' of these funds and the "Nature' of the transactions reflected in the printed sheets i.e. whether such transaction was a 'loan' or 'payment' in lieu of any other transaction etc. were missing. In absence of such vital details, no 'logical' conclusion could be arrived at. Lastly, the assessee was never confronted about all these missing details in the assessment proceedings. As assessee has discussed his case in detail and we find merit in his contention, therefore, we direct to delete the addition made qua this issue. Decided partly in favour of assessee.
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