TMI Blog2017 (7) TMI 737X X X X Extracts X X X X X X X X Extracts X X X X ..... the CIT(A). Comments from the AO were sought. Detailed reasons have been given by the CIT(A) to come to the conclusion that the Assessee had discharged its onus of establishing the identity, genuineness and creditworthiness of both the investors as well as the lenders. This has been concurred with by the ITAT in the impugned order which is again an extremely detailed one. The concurrent factua ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... case, ITAT erred in deleting the addition of ₹ 1,30,00,000 under Section 68 where assessee was not able to produce any of the Director, Shareholders or Principal Officer of the companies to which shares were allotted? (2) Whether on facts and circumstances of the case, ITAT was justified in upholding the order of CIT(A) by reducing the addition under Section 68 to ₹ 5,01,000 on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... us of establishing the identity, genuineness and creditworthiness of both the investors as well as the lenders. This has been concurred with by the ITAT in the impugned order which is again an extremely detailed one. 5. The concurrent factual findings of both the CIT(A) and ITAT have not been shown to be perverse by the Appellant. This is virtually the fourth stage of the litigation. 6. Ques ..... X X X X Extracts X X X X X X X X Extracts X X X X
|