9911796707
TMI Blog2013 (5) TMI 20X X X X Extracts X X X X X X X X Extracts X X X X ..... ly erred in interpreting the order of the Hon'ble ITAT regarding the mode of verification of unsecured loans of Rs..6,50,000/-. 4. The Ld Assessing Officer and the Ld CIT(A) has failed to consider the fact that the complete income tax particulars in the form of PAN and Ward addresses and the bank particulars of the persons from whom loans were taken had been filed and were on record. He has however, proceeded to summarily add Rs. 6,50,000/- to the income of the appellant. 5. The Ld CIT(A) has erred in confirming the addition of Rs. 4500/- received as share capital to the income of the appellant. 6. The appellant may kindly be permitted to raise any further ground 9s) of appeal at the time of hearing before your Honours. 2. The brief fac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in information in respect of creditors cum shareholders and to produce them to your goodself. Following information is being submitted:- 1. Details of loans of all 7 parties alongwith their names, addresses, GIR No. and PAN/cheque/draft No. and date, name of bank and branch. 2. Confirmation of creditors cum shareholders. 3. Copies of letters dated 10.1.92 sent to parties. 4. Copies of letter dated 14.2.1992 sent to parties. 5. Copies of receipt of regd. Letter. 6. Copies of the letters from parties confirming their GIR No. 7. Statement of account of the parties in which intt. Has been provided and TDS has been deducted. 8. Fresh confirmation of parties. The revenue apart from issuing notice u/s 131 at the instance of the assessee d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aid on these deposits so there was no question of non genuineness of the transaction. He further argued that Assessing Officer did not comply his part of duty regarding verification from bank accounts, from assessment records of the persons whose complete details were already with the Assessing Officer. 7. The Ld DR, on the other hand, relied upon the order of Assessing Officer and Ld CIT(A). 8. We have heard the rival submissions of both the parties and have gone through the material available on record. We find that the matter is very old and assessee had submitted complete details of depositors along with names & bank account details alongwith PAN numbers, cheque numbers with amounts. Due to long time gap the assessee was not able to p ..... X X X X Extracts X X X X X X X X Extracts X X X X
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