9911796707
TMI Blog2015 (1) TMI 1160X X X X Extracts X X X X X X X X Extracts X X X X ..... pugned order dated 09.05.2014 of the Income Tax Appellate Tribunal (hereinafter referred to the "ITAT") in ITA No.3014/Del./2013. It is urged that the substantial question of law sought to be urged in support of the appeal is that ITAT fell into error in directing the deletion of Rs. 2,85,75,905/- - which was added back under Section 68 of the Income Tax Act by the assessing officer (hereinafter r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... AT, the question of permissibility of additional evidence under Rule 46A was first considered and given the circumstances, it was held that the CIT(Appeals) fell into error in rejecting the request. The ITAT also noticed that remand report had been sought from the AO during the first appellate proceedings. It went on to analyze the findings of the CIT(Appeals) and directed that the inclusion of am ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Assessing Officer in the remand report on merits are worth to note, it reads as under: "On merits, the additional evidences filed to indicate the identity of the persons, who have made the contribution to the assessee company by way of share application or loans. They are sons of Sh. P N Khana, director and brother of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed CIT (Appeals)." 14. Learned Assessing Officer has not given any adverse comments. He observed that transactions are reflected in the bank statement of the assessee as having been received through banking channel. The assessee has filed affidavits of Shri Sandeep Khanna and Sanjay Khanna. They have disclosed th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ulars of the bank, the cheque numbers, the ledger account was furnished to the AO. Though this was in the course of remand proceedings, having regard to the bank accounts of the subscribers - who are concededly family members, and whose identities were ascertainable, the AO, failed to probe further. In these circumstances, this Court is of the opinion that considering the law declared in CIT V. Lo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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