TMI Blog2017 (7) TMI 368X X X X Extracts X X X X X X X X Extracts X X X X ..... Income Tax particulars, audited balance sheets, Profit and Loss Account etc. AO disregarded the above documents and came to the conclusion that transaction of receiving money as share capital was not a genuine one primarily because the premium charged by the Assessee was much higher than the prevalent market trend. As rightly observed by the CIT (A) unless the AO had brought on record some materia ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2. For the reasons stated therein, this application is allowed. The delay in filing the appeal is condoned. ITA No. 361/2017 3. This is an appeal under section 260A of the Income Tax Act, 1961 ( Act ) filed by the Revenue against an order dated 5th September, 2016 passed by the Income Tax Appellate Tribunal ( ITAT ) in ITA No. 3438/Del/2013 for the Assessment Year ( AY ) 2009-10. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Pvt. Ltd.). That order of the ITAT was confirmed by this Court by dismissing the Revenue s further appeal. 6. Mr. Chaudhary nevertheless insisted that since there was no consideration of the issue on merits, the present case should be remanded to the ITAT for a fresh consideration. 7. The CIT (A) has in para 9.1 of his order noted that the Assessee had placed before the AO the following do ..... X X X X Extracts X X X X X X X X Extracts X X X X
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