TMI Blog2012 (7) TMI 47X X X X Extracts X X X X X X X X Extracts X X X X ..... 46A (3) of the Rules as the AO has not been allowed reasonable opportunity to examine the evidence and to produce any evidence or documents in rebuttal of the additional evidence produced by the assessee. Therefore, matter remitted back to the file of CIT(A) for fresh adjudication - Decided in favor of Revenue for statistical purposes. - I.T.A.No.3583/Del/2010 - - - Dated:- 31-5-2012 - SHRI A.N. PAHUJA, SHRI CHANDRA MOHAN GARG, JJ. Appellant by: Dr. B.R.R. Kumar, Sr.DR Respondent by : Shri S.B. Gupta O R D E R PER CHANDRA MOHAN GARG, JUDICIAL MEMBER This appeal has been preferred by the Revenue against the order of Ld. CIT(A)-XXVI, New Delhi dated 14.5.2010 on the following ground:- The ld. CIT(A) has ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dmitting and considering additional evidence submitted by the assessee. Ld. CIT(A) observed that due to non-service of any of the notices, the assessee was prevented by sufficient cause from furnishing the evidence before the AO and the First Appellate Authority admitted the additional evidence under Rule 46A of the I.T. Rules, 1962. Ld. CIT(A) finally passed the impugned order and deleted the addition made by the AO. 4. Ld. DR vehemently submitted that the ld. CIT(A) grossly erred in deleting the addition of Rs. 10 lakh made on account of unexplained investment in RBI bond u/s 68 of the Act, relying on additional evidence, which was admitted by him in contravention of Rule 46A of the Rules. He also submitted that the assessee avoided to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Ms Dimple Gupta as sources of investment made by the assessee. Ld. CIT(A) asked the assessee to furnish rejoinder to the remand report and the same was submitted. 7. Ld. CIT(A) further noted that the AO has not made any adverse remarks in respect of remand proceeds of 9% relief bonds amounting to Rs.7.765 lakhs, thus, the source has been accepted by the AO. The Ld. CIT(A) has also drawn a finding that the copy of the income tax return of Ms Dimple Gupta in support of her creditworthiness was also not adversely commented by the AO in the remand report. Therefore, the ld. CIT(A) concluded with a finding that loan transaction from Ms Dimple Gupta was reliable as her identity and creditworthiness, coupled with genuineness of the transaction, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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