TMI Blog2014 (9) TMI 1175X X X X Extracts X X X X X X X X Extracts X X X X ..... e of the assessee. A perusal of the paper book clearly shows that the return acknowledgment, computation of income along with the Capital A/c. and the affidavits of the creditors were before the Assessing Officer. This fact being undisputed clearly the decision in the case of Dataware Private Limited [2011 (9) TMI 175 - CALCUTTA HIGH COURT] squarely applicable on the facts of the assessee’s case. - Decided in favour of assessee. - I.T.A. No. 19/KOL/2013 - - - Dated:- 10-9-2014 - Shri Shamim Yahya (Accountant Member) And Shri George Mathan (Judicial Member) For the Appellant : Shri Soumit ra Choudhury, Advocate For the Respondent : Smt. Ranu Biswas, JCIT, D.R. ORDER Per George Mathan: This is an appeal filed by th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ons appeared. It was the submission that the Assessing Officer on the ground that the persons to whom the not ices had been issued failed to appear and also on the ground that the persons who had appeared were not creditworthy and as the Assessing Officer doubted the genuineness of the transactions, he treated the entire unsecured loans as unexplained cash credit in the hands of the assessee. It was the submission that on appea, the ld. CIT(Appeals) confirmed the order of the Assessing Officer. Ld. A.R. drew our attention to page 7 of the paper book, which was the copy of the remand report obtained by the ld. CIT(Appeals) from the Assessing Officer dated 25.05.2011. It was the submission that in all the cases, Permanent Account Nos., Bank A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... has been accepted by the Assessing officer of the creditor but instead of adopting such course, the Assessing officer himself could not enter into the return of the creditor and brand the same as unworthy of credence. So long it is not established that the return submitted by the creditor has been rejected by its Assessing Officer, the Assessing officer of the assessee is bound to accept the same as genuine when the identity of the creditor and the genuineness of transaction through account payee cheque has been established. We find that both the Commissioner of Income Tax(Appeal) and the Tribunal below followed the well-accepted principle which are required to be followed in considering the effect of Section 68 of the Act and we thus ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s were before the Assessing Officer. This fact being undisputed clearly the decision dated 21.09.2011 of the Hon ble jurisdictional High Court in the case of Dataware Private Limited is squarely applicable on the facts of the assessee s case. Consequently respectfully following the decision of the Hon ble jurisdictional High Court in the case of Dataware Private Limited referred to supra as also the decision dated 15.07.2014 of the coordinate Bench of this Tribunal in the case of Jyoti Saraf referred to supra, the addition as made by the Assessing Officer and as confirmed by the ld. CIT(Appeals) stands deleted. 7. In the result, the appeal filed by the assessee stands allowed. Order pronounced in the open Court on 10th September, 2014 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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