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TMI Blog2015 (11) TMI 1371X X X X Extracts X X X X X X X X Extracts X X X X ..... ordingly in view of the above reasons, the impugned order is set aside and the issues are restored back to the file to the CIT(A) with the direction to pass a speaking order in accordance with and if need to obtain a Remand Report from the AO after giving the assessee a reasonable opportunity of being heard. Since the facts, the circumstances and the grounds are identical in all the years except for the differences in amounts therefore, for similar reasons these appeals are also restored back after setting aside the finding arrived at in the respective impugned orders again back to the file to the CIT(A) with the direction to decide the same in accordance with law after giving the assessee a reasonable opportunity of being heard. - Decided in favour of revenue for statistical purposes - ITA Nos. 6492 to 6494/Del/2014 - - - Dated:- 23-9-2015 - Diva Singh, JM For the Appellant : Dr B R R Kumar, Sr. DR For the Respondent : None ORDER Per Diva Singh By the present appeals, the correctness of the separate orders dated 26.09.2014 of CIT(A)-I, New Delhi pertaining to 2004-05 to 2006-07 assessment years have been assailed on identical grounds. For ready-referenc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3 C of the I.T. Act. 3.1. Relying upon paras 4 5 of the assessment order it was his submission that on account of the assessee s failure to explain the increase of share application money of ₹ 10 lacs and failure to explain the unsecured loans of ₹ 3.31 lacs addition of ₹ 13,31,000/- was made by the AO. For ready reference, paras 4 5 of the assessment order are reproduced hereunder:- 4. From the perusal of balance sheet filed it was noticed that there was increase of ₹ 10 Lac in the share application money ₹ 3.31 Lacs in unsecured loans. There was also addition of ₹ 12,18,980/- in the fixed assets. The Assessee was required to furnish the details of the above vide this office letter dated 05-12- 2011. On 16/12/2011 AR of the Assessee attended the proceedings filed letter dated 12/12/2011 alongwith copy of balance sheet Profit Loss A/c. The Assessee stated that no income tax return was filed as there was no business activity. The Assessee was required to filed details of share application money introduced during the year with, identity / genuineness/ creditworthiness of persons also details of un secured loans the case wa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Addition of USL 2002-03 2100000 12694765 2003-04 3300000 1200000 13974755 1279990 1000000 331000 2004-05 3300000 0 14602256 627501 0 627501 2005-06 3300000 0 15419312 817056 0 817056 2006-07 0 3300000 20682006 5262694 0 5262694 7.2 It would be seen from the above table that additions made are not consistent in as much as that in FY 2003-04 (AY 2004-05) while the increase in share application amounted to ₹ 12,00,000/- the addition made was ₹ 10,00,000/- and while the increase in unsecured loan amounted to ₹ 12,79,990/- ad ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion of ₹ 3.31 lacs. Inviting further attention to para 7.2 again it was his submission that the conclusion that it has been repaid in 2007-08 assessment year has not been arrived at by the CIT(A) by making a reference to any evidence considered. Whether it is based on a finding arrived at by the AO in that year or it is a finding arrived at in some appellate forum the fact remains it was argued that the issue is not addressed. In the absence of discussion on relevant facts and on the inability of the assessee whose firm is found to be closed to explain the same. It was his submission that the impugned order may be set aside to the Ld. CIT(A) to consider the facts afresh based on cogent evidence and if need be obtain a Remand Report from the AO in order to conclusively decide the issue on correct facts and law. 6.1. It was his submission, inviting attention to the facts in 2005-06 2006- 07 assessment years that identical reasoning has been taken by the CIT(A) in both the years for deleting the addition made and the arguments accordingly remained identical and for similar reasons set side on facts is prayed for in those years also. 7. Having heard the submissions and p ..... X X X X Extracts X X X X X X X X Extracts X X X X
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