9911796707
TMI Blog2016 (5) TMI 1004X X X X Extracts X X X X X X X X Extracts X X X X ..... n proceedings under section 143(3) r.w.s. 254 of the Income Tax Act, 1961; in short "the Act". 2. Both the ld. representatives state at the outset that the relevant facts and circumstances leading to the impugned additions in all cases of Rs. 7 lacs each are identical. We take up ITA 3486/Ahd/2015 filed in case of Smt. Alkaben Tejpal Patwa as the lead case for the sake of convenience and brevity. 3. This assessee-individual derives income from short term capital gains, salary and interest. She filed her return on 30-03-2009 stating income of Rs. 2,54,810/-. The Assessing Officer took up scrutiny. He noticed from assessee's HDFC bank account that the same involved 15 credit entries. Fourteen had credit in instant cases of Rs. 49,000/- each ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... icer to treat the impugned figure of Rs. 7 lacs as unexplained cash credit u/s. 68 of the Act. The CIT(A) confirmed the same in his order dated 22-11-2012. The assessee filed ITA 494/Ahd/2013 before the tribunal. A co-ordinate bench in its order dated 21-06-2013 remitted the issue back to the Assessing Officer as under:- "6. Having heard the submissions of both the sides, we are of the considered opinion that certain facts have yet to be ascertained in respect of all these appeals. Prima facie one of the plea of the assessee that it is not a case of fresh loan taken for the year under consideration, but it was simply a return of old advances, which had not been verified by the AO. Now, the assessee is placing reliance on certain computer g ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the impugned amounts credited as loans and advances carried forward from past years and re-paid in the impugned assessment year. She placed on record her returns for assessment year 2006-07 and 2007-08, respective accounts copies, bank accounts, balance sheet of assessment year 2004-05 and ledgers maintained in support of the repayment plea. The Assessing Officer observed in consequential order dated 30-06- 2014 that pendency of these advances could not be verified in assessment years 2006-07 and 2007-08. He thereafter came to assessee's balance sheet for assessment year 2004-05 stating asset side 'loans and advances' totaling to Rs. 13,56,402/- in case of 18 parties including the very 15 creditors narrated hereinabove. The Assessing Offic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tanding closing balances of Rs. 49,000/- and Rs. 14,000/-. This is not the Revenue's case that these accounts are not genuine or improper maintained. There is hardly any dispute that the same stands accepted as correct in the relevant intervening assessment year. Ld. DR fails to rebut this factual position. We do not find any observation in Assessing Officer's consequential order alleging that he ever summoned these creditors for the purpose of conducting verification and they did not turn up to confirm assessee's stand. We take into account totality of all these facts and circumstances to hold that the assessee has successfully proved her case of having received repayment of earlier loans and advances given to the above stated 15 creditors ..... X X X X Extracts X X X X X X X X Extracts X X X X
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