TMI Blog2016 (12) TMI 246X X X X Extracts X X X X X X X X Extracts X X X X ..... hich was not available on record during the Assessment Proceedings. It is this, additional evidence which was produced by the Respondent-Assessee to establish the genuineness of the loan. Thus, the exercise of discretion by the CIT(A) in admitting the to admit additional evidence under Rule 46A( 1)(d) of the Income Tax Rules cannot be said to be perverse. Incidentally, it needs to be noted that on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 46A of IT Act, 1961 inspite of repeated opportunities were given to Assessee and Assessee failed to produce evidence before Assessing Officer? . 3 For the subject Assessment Year, the Assessing Officer during the Assessment Proceedings, added an amount of ₹ 93.19 lakhs to the Respondent-Assesse's income. This amount had been shown as loan received from one W. T. Namgyal Haglok, Sik ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g the Assessment Proceedings. The additional evidence was taken on record and on merits, the addition was deleted. 5 Being aggrieved, the Revenue carried the issue in Appeal to the Tribunal. At the hearing before the Tribunal, the issue agitated by the Revenue was allowing of additional evidence by the CIT(A) as being in contravention of Rule 46A of the Income Tax Rules. The impugned order of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s of repayment which was not available on record during the Assessment Proceedings. It is this, additional evidence which was produced by the Respondent-Assessee to establish the genuineness of the loan. Thus, the exercise of discretion by the CIT(A) in admitting the to admit additional evidence under Rule 46A( 1)(d) of the Income Tax Rules cannot be said to be perverse. Incidentally, it needs to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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