TMI Blog2014 (6) TMI 249X X X X Extracts X X X X X X X X Extracts X X X X ..... ding in Goa and as the time given for producing evidences by the AO was insufficient, application for admission of additional evidence under Rule 46A was filed before the CIT(A), who admitted the same – the FAA was right in deleting the addition as cash credit u/s 68 of the Act - on the addition of unexplained share application money, the findings of the CIT(A) is not controverted - The identity, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he lender Sh.Piyush Kantilal Kadiwar, and assessee has failed to fulfill the specific requirement of section 68 of the Act; b) The assessee has completely failed in discharging its onus of genuineness and credit worthiness of the person from where the credit has been appearing in the books of assessee. 2. The appellant craves leave for reserving the right to amend, modify, alter, add or fore ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Kanthilal Kadiwar, was repaid to him vide cheque no.578784 dt. 10.8.2007. The assessee has submitted that Mr.Piyush Kanthilal Kadiwar was a person residing in Goa and as the time given for producing evidences by the Assessing Officer was insufficient, application for admission of additional evidence under Rule 46 A was filed before the Ld.CIT(Appeals), who admitted the same. The additional eviden ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... addition of Rs.6 lakhs on account of unexplained share application money, the findings of the Ld.CIT(Appeals) at page 5 is not controverted by the Ld.D.R. The identity, capacity and genuineness of the transaction had been demonstrated by the assessee. In the result this ground of Revenue is also dismissed. 7. In the result the appeal of the Revenue is dismissed. Order pronounced in the Open ..... X X X X Extracts X X X X X X X X Extracts X X X X
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