TMI Blog2021 (12) TMI 437X X X X Extracts X X X X X X X X Extracts X X X X ..... statement of Rajneesh Dhawan and the tax credit certificate in Form 26AS as well as the income-tax return copy of Smt. Yamini Bhat are being filed for the first time before this Tribunal as additional evidence. Though, prima facie, it appears that both the loan creditors are having creditworthiness and are capable of advancing the loans to the assessee; however, the additional evidences require factual verification. Considering the fact that the additional evidences sought to be furnished before us will have a crucial bearing on deciding the disputed issue, we are inclined to admit them. However, since the departmental authorities did not have an opportunity to verify them, adhering to the rules of natural justice, the departmental a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssing officer, the assessee furnished confirmations from some of the lenders and expressed his inability to furnish their income-tax return copies. Further, the assessee requested the assessing officer to call for the income-tax return copy and confirmation in respect of lenders in whose case such documents are unavailable. The assessing officer, accordingly, sent notices to the concerned loan creditors. As mentioned by the assessing officer, some loan creditors viz. Shri Rajneesh Dhawan and Smt. Yamini Bhat did not furnish the required documents. The assessing officer observed, through initial departmental enquiry it was found that the concerned individuals have not filed their income-tax returns. Thus, ultimately, the assessing officer tr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y of additional evidence. In this context, he drew our attention to letter dated 23-08-2021 requesting for admission of additional evidence alongwith the evidences sought to be furnished. Drawing our attention to the various documents furnished in the paper book, learned counsel submitted, not only the identity of the creditors has been established, but their creditworthiness has also been proved. He submitted, since the entire loan transaction was conducted through banking channel, the genuineness cannot also be doubted. Proceeding further, he submitted, Shri Rajneesh Dhawan was an ex employee of Air India and known to the assessee. He submitted, not only he has confirmed the loan transaction, but has also been able to obtain bank statemen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ue on merit. 7. We have considered rival submissions and perused materials on record. Undisputedly, the assessee has availed loan of ₹ 1 crore from Rajneesh Dhawan and ₹ 40 lakhs from Yamini Bhat. It is the case of the assessee that Rajneesh Dhawan is an old acquaintance as both of them worked in Air India. The assessee has also submitted that Yamini Bhat is also closely known to him. There is no dispute that the loan amounts have been received by the assessee through banking channel. It is also a fact on record that the assessee has furnished documentary evidences to establish the identity of the creditors. Even, loan confirmations from the concerned creditors have been furnished before the first appellate authority. However ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... adhering to the rules of natural justice, the departmental authorities have to be given an opportunity to verify them. It is also a fact on record that certain additional evidences furnished before learned Commissioner (Appeals) were not accepted purely on technical ground. In view of the aforesaid, we are inclined to restore the issue to the file of learned Commissioner (Appeals) for not only considering the additional evidences filed before him but also before us, as well. We further direct learned Commissioner (Appeals) to conduct adequate enquiry based on the additional evidences, either by himself, or get it done through the assessing officer by way of remand proceedings. Based on such enquiry, learned Commissioner (Appeals) must decid ..... X X X X Extracts X X X X X X X X Extracts X X X X
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