TMI Blog2023 (7) TMI 1263X X X X Extracts X X X X X X X X Extracts X X X X ..... ny bearing on the given facts of the case. It is for the reason that the addition made by the AO which was subsequently confirmed by the CIT-A is not sustainable for the reasons elaborated above. Accordingly, we set aside the finding of the learned CIT-A and direct the AO to delete the addition made by him. Hence the ground of appeal of the assessee is hereby allowed. - ITA Nos. 1616 & 1617/AHD/2019 - - - Dated:- 30-6-2023 - Shri Waseem Ahmed, Accountant Member And Shri T.R Senthil Kumar, Judicial Member For the Assessee : Shri Umedsingh Bhati, A.R For the Respondent : Shri Ramesh Jha, Sr.D.R ORDER PER WASEEM AHMED, ACCOUNTANT MEMBER : The captioned two appeals have been filed at the instance of the Assessee against the order of the Learned Commissioner of Income Tax (Appeals)-8, Ahmedabad arising in the matter of assessment order passed under s. 143(3) r.w.s 147 of the Income Tax Act, 1961 (here-in-after referred to as the Act ) relevant to the Assessment Years 2013-2014 2014-15. 2. The assessee has raised the following concise grounds of appeal: 1. That on facts and in law the learned CIT(A) has grievously erred in confirming the reopening ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vest Group. Accordingly, the impugned receipt of money cannot be treated as unexplained cash credit under section 68 of the Act. 5.2 However, the AO was not satisfied with the contention of the assessee on the reasoning that assessee has not disclosed the parties name to whom the sales have been made and the payment has been made by such party through the involvement of M/s Jalaram Finvest Group to the assessee. In the absence of such information, the AO treated the sum of ₹ 1,42,78,300.00 as unexplained cash credit under section 68 of the Act. 6. Aggrieved assessee preferred an appeal to the learned CIT-A 7. The assessee before the learned CIT-A submitted that it has made sales to the party namely M/s Shaikh Traders and against such sales it has received the payment from the M/s Jalaram Finvest Group. The assessee in support of the sales made to M/s Shaikh Traders has furnished the sales ledgers and sample copy of the invoice. It was accordingly contended by the assessee that it has no role to play how the party is making payment to it (the assessee). The assessee also pointed out that the sale made to M/s Shaikh Traders in the year under consideration was of ₹ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vest Ltd and Shri Dahyalal Ishwarlal Thakkar which was also upheld by the ITAT. The relevant contention of the assessee before the learned CIT-A vide letter dated 29-08-2019 is reproduced as under: 14 Notwithstanding the above fact, it is also submitted that if the AO would have taken care to verify the facts stated in the reasons recorded with the AO of the Jalaram Group, he would gained knowledge about the fact that no addition in their case have been made on account of accommodation entries as alleged by him in the reasons recorded. That apart, it was also acknowledged in their case that they are in the business of cheque discounting in the capacity of shroff, which is a valid business activity duly accepted by the Reserve Bank of India also. Further, if the AO would have taken further pain to verify the allegations made in the reasons recorded, he would also gained knowledge about the fact that whatever additions were made in the assessment order in the case of Dahyabhai Thakkar and Jalaram Finance Ltd. have been deleted by the Id. CIT(A)-11, Ahmedabad vide appellate orders passed in March, 2018 i.e. almost 5 months prior to the assessment order passed in case of the appell ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the amount received from M/s Jalaram Finvest Limited on behalf of M/s Shaikh Traders. Now, once the assessee has discharged the primary onus by furnishing the basic details, the onus shifts upon the revenue to disprove the contention of the assessee based on cogent reasons. But the revenue has simply refused to accept the version of the assessee merely on the reasoning that no document from the 3rd party either from M/s Jalaram Finvest Ltd or M/s Shaikh Traders was furnished by the assessee. To our understanding, the revenue at least before denying the version of the assessee should have enquired from the concern party by issuing the notice under section 131 or 133(6) of the Act. But what we find is this that the Revenue without exercising the power granted under the statute has shifted the entire onus upon the assessee by stating that it is the duty of the assessee to furnish the confirmation or other supporting details of the parties/ transactions. It is not out of place to mention that collecting details by the assessee from the 3rd party is time consuming job. Furthermore, the 3rd party, though having dealt with the assessee, is not under any obligation to furnish the details u ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by any other mode. But no such detail has been brought on record by the revenue. 12.8 It is also pertinent to note that the AO in his remand report has clearly stated that receipt of money of ₹ 17,21,500 does not pertain to the year under consideration as it was received on 24th February 2012 financial year 2011-12 but the addition has wrongly been made in the year under consideration. Be that as it may be, it will not have any bearing on the given facts of the case. It is for the reason that the addition made by the AO which was subsequently confirmed by the learned CIT-A is not sustainable for the reasons elaborated above. Accordingly, we set aside the finding of the learned CIT-A and direct the AO to delete the addition made by him. Hence the ground of appeal of the assessee is hereby allowed. 12.9 In the result, the appeal of the assessee is partly allowed. Coming to ITA No. 1617/AHD/2019 an appeal by the assessee for A.Y. 2014-15 13. At the outset we note that the issues raised by the assessee in its grounds of appeal for the AY 2014-15 are identical to the issues raised by the assessee in ITA No. 1616/AHD/2019 for the assessment year 2013-14. Therefor ..... X X X X Extracts X X X X X X X X Extracts X X X X
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