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TMI Blog2013 (2) TMI 527X X X X Extracts X X X X X X X X Extracts X X X X ..... same were not accepted by him due the reasons that they were not notarized – However, at the remand report stage, the assessing officer has accepted that later on notarized confirmations were received by him from the appellant. Since the notarized confirmations have been received by the assessing officer as required by him and as he has not given any adverse comments on the same in the remand report, the same is acceptable. AO was directed to accept the credits as stated in notarized confirmation letters, after proper verification of the same from the bank statements - Assessee had established the necessary ingredients for the cash credit received and notably before the CIT(Appeals) the assessee had produced notarized confirmation which ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... peal before the CIT(Appeal), such additions were deleted. CIT (Appeals) made the following observations in the process: I have considered the facts of the case and submissions of the appellant carefully. I have also gone through the decisions relied upon by the A.R. Enclosed with paper work dated 03.03.2004 and the observations of the assessing officer in the assessment order. The assessing officer in the assessment order as well as in his remand report dated 29.9.2004 has stated that the confirmation of the cash credits of eight persons were submitted, however, the same were notarized and therefore, the addition was made. It is submitted by the assessing officer that the appellant has submitted notarized confirmations only after the pas ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ficer, with regard to the particulars of loans taken and mode of payments as claimed in the confirmation letters. In these circumstances, I am of the view that without verification of the particulars of the same as given in the confirmation letters from the bank statement of Shri Janak Patel/appellant, the same cannot be allowed. The assessing officer, is therefore, directed to accept the credits as stated in notarized confirmation letters, after proper verification of the same from the bank statements. The assessing officer is directed accordingly. Revenue carried the matter in appeal. The Tribunal confirmed the view of the CIT (Appeals) and hence the present appeal is before us. Having heard the learned counsel for the Revenue and ..... X X X X Extracts X X X X X X X X Extracts X X X X
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