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Issues Involved:
1. Justification of Ld.CIT(A) in deleting the addition of Rs. 22,02,000/- made by the AO towards alleged unaccounted investment fund. Summary: Issue 1: Justification of Ld.CIT(A) in deleting the addition of Rs. 22,02,000/- made by the AO towards alleged unaccounted investment fund. The Revenue challenged the order of Ld.CIT(A)-II, Pune, which deleted the addition of Rs. 22,02,000/- made by the AO towards alleged unaccounted investment fund. The AO issued a notice u/s.148 to the assessee following a search and seizure operation u/s.132 against Shri Shriram H. Soni, revealing cash transactions and documents indicating an investment of Rs. 22 lakhs by "Ashok Oswal." The AO taxed this amount u/s.69 for A.Y. 2000-01 and made an addition of Rs. 22,02,000/- for A.Y. 2001-02 based on the peak of investment calculated from loans refunded and advanced. The assessee denied any connection with Shriram Soni, stating he ran a small grocery shop and had no significant assets or investments. The AO, unconvinced, completed the assessment with the addition. The CIT(A) called for a remand report, which revealed no promissory notes or blank cheques in the name of "Ashok Oswal" were found, and the signatures did not match the assessee's. The CIT(A) accepted the assessee's plea, noting the lack of corroborative evidence linking the assessee to the transactions. The Tribunal upheld the CIT(A)'s decision, emphasizing that the burden of proof was on the Revenue to establish the identity of "Oswal Ashok" as the assessee. The AO's examination of multiple individuals named "Ashok Oswal" without conclusive evidence further weakened the Revenue's case. The Tribunal found no merit in the Revenue's appeal and dismissed it, affirming the deletion of the addition by the CIT(A). Conclusion: The appeal filed by the Revenue was dismissed, and the deletion of the addition of Rs. 22,02,000/- by the CIT(A) was upheld due to the lack of corroborative evidence linking the assessee to the alleged unaccounted investment.
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