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Commissioner of Income Tax (Central) Versus B.B. Sharma

2017 (3) TMI 397 - ALLAHABAD HIGH COURT

Addition u/s 68 - Held that:- Tribunal in the instant case had examined the evidence on record, the most material being the conclusion drawn by the Assessing Officer after having been required to examine the issue and submit his report before the CIT .....

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- Decided in favour of the assessee and against the revenue. - Income Tax Appeal No. 730, 726, 727, 729, 731 of 2012 - Dated:- 6-3-2017 - Hon'ble Bharati Sapru And Hon'ble Saumitra Dayal Singh, JJ. For the Appellant : Ashok Kumar,Ashok Kumar .....

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on order of the Tribunal dated 29.04.2011, the same is being decided by a common judgment and order treating the Income Tax Appeal No.730 of 2012 as the leading case. The income tax appeal no.730 of 2012 has been filed by the assessee under Section 2 .....

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epartment before the Tribunal reflects that the question no.2 does not arise from the order of the Tribunal inasmuch as from the grounds thus produced, it is clear that the issue pertaining to applicability of Rule 46-A of the Income Tax Act was not .....

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tances of the case in giving relief on account of addition being unexplained credits on wrong appreciation of law and without any basis substituting his own satisfaction in place of AO's satisfaction has not discharged his onus as provided in Sec .....

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viduals, which total to ₹ 45,50,000/-. In the appeal by the assessee, the CIT (Appeals) had called for a remand report from the Assessing Officer which has been elaborately extracted by the CIT (Appeals) in his order dated 23.11.2010 whereby th .....

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nd report itself wherein the A.O. categorically stated (in respect of unsecured loans/advance of ₹ 2,50,000/- of Shri N.D. Bareja) as hereunder: " In view of the evidences furnished the assessee has discharge his onus to prove identity, cr .....

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lso find a similar conclusion had been drawn by the Assessing Officer in his remand report which have also been extracted and relied by the CIT (Appeals) in respect of other credit entries in his order. In view of such findings, the Tribunal dismisse .....

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