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TMI Blog2013 (10) TMI 110X X X X Extracts X X X X X X X X Extracts X X X X ..... ananjai Awasthi for the appellant-department. Sri R.R. Agrawal appears for the respondent-assessee. 2. This Income Tax Appeal under Section 260-A of the Income Tax Act, 1961 (the Act) is directed against the order dated 06.08.2009, passed by the Income Tax Appellate Tribunal, Delhi Bench 'E', New Delhi in Income Tax Appeal No. 2232/Del/2009, relating to the Assessment Year 2005-06. 3. The depart ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cepted by the appellate authority on the reasons given in the application and on which findings were recorded that the additional evidence are documents, which are necessary to adjudicate the issue. He sent the additional evidence to the AO for submitting a remand report, and thereafter recorded findings that the AO did not have sufficient material and evidence on record so as to hold the sale of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rtment of the share and broker company. The assessee made payments for the purchase through banking channel ; which is not disputed. Further the sale proceeds received are reflected in bank pass book. Furthermore, the cutting from newspaper showing market rate of share was furnished supporting the sale rate of the shares. The transactions have been entered into by the appellant through the broker ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... de letter dated 21.05.2008, calling for a remand report; that the AO filed the remand report dated 11.08.2009; that the assessee filed a rejoinder to such remand report; that it was only thereafter that the additional evidences were admitted. The learned CIT (A) moreover, it is seen, has not relied only on the additional evidence filed by the assessee. 3. Therefore, it cannot be said that the lea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and thus the addition made at Rs.10,62,000/- was liable to be deleted. 8. The department has not challenged the genuineness of the transaction and the findings arrived at, for deleting the addition. 9. After examining the records, we find that the application was made explaining the circumstances in which additional evidence could not be filed, and thus CIT (A) after considering the application ..... X X X X Extracts X X X X X X X X Extracts X X X X
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