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TMI Blog2012 (9) TMI 250X X X X Extracts X X X X X X X X Extracts X X X X ..... his order that how the salary of Rs. 5,000/- paid to Shri Hani Jain is in violation of provisions of section 40A(2)(b), neither any other reasons have been assigned by the Assessing Officer. If any person is working, he can at the same time, continue his study also in part time, and there is no bar in studying part time. Addition made is deleted - Decided in favor of assessee - ITA NO. 978/JP/2011 - - - Dated:- 22-6-2012 - SHRI R.K. GUPTA, J Respondent by : Ms Roshanta Meena ORDER Date of Order : 22/06/2012. This is an appeal by assessee against the order of Ld. CIT (A) relating to assessment year 2007-08. 2. The assessee is objecting in confirming the addition under section 68 of Rs. 1,14,000/- and confirming the addi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... confirmed having given the loan to the assessee. Some of the other persons are working in the same area and they have filed their voter election cards along with affidavits/confirmations. I further noted that complete addresses of these persons were given. Neither the Assessing Officer bothered to summon these persons independently to examine further, if he wanted to examine them. Therefore, in my considered view the addition made under section 68 is without merit. The Hon'ble Rajasthan High Court in case of Aravali Trading Co. vs. ITO it has been held that once the existence of creditor is proved and such persons on the credits which are found in the books of the assessee, the assessee onus stands discharged and the later is not further re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of assessee s firm and has confirmed in having received salary of Rs. 5,000/- p.m. from assessee. It has not been pointed out by Assessing Officer in his order that how the salary of Rs. 5,000/- paid to Shri Hani Jain is in violation of provisions of section 40A(2)(b), neither any other reasons have been assigned by the Assessing Officer. The Assessing Officer has observed that initially assessee has not filed any explanation that what business activity has been attended by Shri Hani Jain. It is further noted that Shri Hani Jain was still studying at the relevant time and even then the assessee has paid salary of Rs. 5,000/- per month. He further observed that a student who is preparing for the RPET Exam has paid salary of Rs. 5,000/- per m ..... X X X X Extracts X X X X X X X X Extracts X X X X
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