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TMI Blog2014 (7) TMI 1103X X X X Extracts X X X X X X X X Extracts X X X X ..... h both have stated that they are Tribal of North East Region and their incomes are exempt under section 10(26) of the Act, no evidence whatsoever has been produced to substantiate any of their claims. Nothing whatsoever was produced so that they belong to Scheduled Tribe in the North East Region. Nothing has been produced to show that they had money to make the investment in the share application of the assessee. In these circumstances, the issue of the share application money in the case of Shri Gulab Chand Jain and Shri Motilal Jain is restored to the file of the Assessing Officer for re-adjudication after personal verification and examination of Shri Gulab Chand Jain and Shri Motilal Jain. In respect of the addition deleted by the ld. CI ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (3) Smt.Preety Dkhar for an amount of ₹ 12,50,000/- and (4) Smt. Phool Dkhar for an amount of ₹ 12,20,000/-. It was the submission that the assessee is based in Kolkata and the addresses of the share applicants were from Guwahati. Consequently ld. JDIT (Investigation), North East Region, Guwahati had been requested to conduct enquiries in respect of the four persons and ld. JDIT (Investigation) had sent his enquiry report mentioning that Shri Gulab Chand Jain and Shri Motilal Jain were low paid employees of M/s. Mahabir Coke Industries, Guwahati and they were having salaries approximately ₹ 3,500/- per month. In respect of Smt. Preety Dkhar and Smt. Phool Dkhar, it was informed that ld. JDIT(Investigation) could not trace ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... order of the ld. CIT(Appeals) was liable to be reversed. 5. In reply, ld. A.R. submit ted that all evidences had been produced before the ld. CIT(Appeals) and the ld. CIT(Appeals) after having considered all the evidences had deleted the addition. It was the submission that the funds in connection with Shri Gulab Chand Jain and Shri Motilal Jain had been clearly showed to be the source from M/s. North Eastern Coal Suppliers (Pvt.) Ltd. It was also clearly mentioned in the reply of Shri Preety Dkhar and Shri Phool Dkhar that they were from the Scheduled Tribes of the North East Region and they were not liable to pay income-tax in so far as their incomes were exempt under section 10(26) of the Income Tax Act. It was the submission that th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... om Guwahati GPO. All these clearly create a doubt in respect of the existence of Shri Gulab Chand Jain and Shri Motilal Jain as also their transactions in respect of share application money. 6.1. In respect of Smt. Preety Dkhar and Smt. Phool Dkhar, though both have stated that they are Tribal of North East Region and their incomes are exempt under sect ion 10(26) of the Act, no evidence whatsoever has been produced to substantiate any of their claims. Nothing whatsoever was produced so that they belong to Scheduled Tribe in the North East Region. Nothing has been produced to show that they had money to make the investment in the share application of the assessee. In these circumstances, the issue of the share application money in the ca ..... X X X X Extracts X X X X X X X X Extracts X X X X
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