TMI Blog2018 (3) TMI 529X X X X Extracts X X X X X X X X Extracts X X X X ..... . The Revenue challenges an order of the ITAT which set aside the amount of ₹ 4,16,18,889/- brought to tax under Section 68 of the Income Tax Act, 1961 (for short the Act ) by the Assessing Officer (AO). 2. The assessee claimed that the amount in question was received by it as share application money, by two foreign nationals. The AO rejected the explanation after considering the evidence led before him. The CIT(A), to whom the assessee appealed, rejected its request for adducing additional evidence. However, the Appellate Commissioner had sought a remand report. The assessee appealed to the ITAT which has allowed its plea. 3. The Revenue urges that the ITAT fell into error in not noticing that the assessee had persistently sho ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in respect of Mr. Patrick Brian Joseph, it was stated that sum has been received by appellant from his bank account, and at the time of remittance he has debit balance as such, his source is also doubted. It is submitted that during the course of the appellate proceedings, appellant filed an application under Rule 46A of the Income Tax Rules, and alongwith the application, appellant filed the Tax Returns of both the individuals. That from the perusal of the aforesaid return of income, it would be seen that for the period 06.04.2011 to 05.04.2012, Mr. Curran has shown an income of 1,52,289/- (placed at page 287-289 of PB) and Mr. Gregory stofeldt of AUD 80,217/- which clearly show that such persons are man of means and have sufficient credit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tic and Consular Office (Oaths and Fees) Act, 1948. It is relevant to state that AO in his remand report dated 10.10.2016 did not dispute the veracity of the additional evidences furnished by the assessee and further learned CIT(A) did not admit the additional evidences purely on technical ground which is wholly unwarranted in law. In fact, additional evidences were computerized documents and have evidentiary value. It is submitted that it is settled law that when substantial justice and technical considerations are pitted against each other, cause of substantial justice deserves to be preferred. It is further submitted that it is also settled law that the rigor of the rule of evidence contained in the Evidence Act did not apply to the proc ..... X X X X Extracts X X X X X X X X Extracts X X X X
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