TMI Blog2019 (2) TMI 106X X X X Extracts X X X X X X X X Extracts X X X X ..... e additions, therefore, cannot be made under section 68 without due process of law. No deliberation on this score was made either by the first appellate authority when the same was again placed before him by the assessee. No remand report, even was not called for by the first appellate authority from the assessing officer before justifying the addition made by the AO. In the absence of any contrary evidence against the assessee up on inquiry made by the authorities below such addition, in our considered view, cannot be sustained in the present facts and circumstances of the case. We, thus, delete the addition made by the authorities below. - Decided in favour of assessee. - ITA No.3173/Ahd/2014 - - - Dated:- 31-1-2019 - SHRI AMARJIT SING ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing total income of ₹ 77,77,266/- through Electronic Media on 31.03.2011. Upon scrutiny a notice u/s 143(2) of the Act dated 13.09.2011 was issued followed by a further notice u/s 142(1) of the Act dated 30.04.2012 and a notice u/s 142(1) along with a detailed questionnaire dated 10.10.2012 was issued and served upon the assessee. In response to the above notices, details and other documents were duly furnished by the assessee. It appears from the record that the assessee during the year under consideration was engaged in the business of resale and job work of Gold and Silver Jewellery. A survey action u/s 133A of the Act was carried out at the business premises of the assessee at B-1 2 Sadhana Tower, Sardar Baug, Station Road Bardo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2.2009 as loan along with the copy of the Bank Statement has also submitted before the Learned AO. Finally, regarding Shri Sureshbhai Patel, the assessee submitted before the Learned AO that Shri Sureshbhai Patel is a born agriculturist and family friend who has given the loan amounting to ₹ 60,000/- by an account payee cheque on 15.12.2009 to the assessee. The copy of the Bank Statement and income proof from Bardoli Sugar in support of the unsecured loan received by the assessee was also duly submitted before the Learned AO. However, the explanation so submitted by the assessee was not found acceptable by the Learned AO and the entire amount to the tune of ₹ 4,29,000/- was added to the total income of the assessee on account of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he records that in respect of the loan to the tune of ₹ 2,50,000/- from Smt Shantiben H Parekh, the double senior citizen widow lender the assessee submitted her bank pass book of the Surat District Bank Corporate Ltd up to 06.08.2014 in support of her rental income, interest income along with the conformation and the return of income of relevant years. The credit worthiness of Shri Sureshbhai D. Patel, a born agriculturist was sought to be established by the assessee by submitting duly signed confirmation of account along with the copy of the bank statement and proof of agricultural income from Bardoli Sugar factory in support of the unsecured loan given to the appellant during the previous year. Proof of holding agricultural land al ..... X X X X Extracts X X X X X X X X Extracts X X X X
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