2016 (6) TMI 653

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..... ly destroyed during the fire. We are unable to attach any importance to the omission pointed out by the Assessing Officer. It is not humanly possible for a person who has suffered an accident by fire to give particulars of all the documents in the FIR, which were or may have been destroyed. Merely on the basis of this omission, it cannot be said that the assessee failed either to offer an explanat .....

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..... oduce those shareholders before the Assessing Officer. On these two grounds the Assessing Officer made additions under Section 68 with respect to the money which the assessee received on account of share application. The CIT(A) concurred with the views of the Assessing Officer. In an appeal preferred by the assessee, the learned Tribunal deleted the additions for the following amongst other reason .....

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..... the AO for unexplained cash credit for the assessment year 1999-2000, 2000-01, 2001-02 and 2003-04 are deleted. Mr. Dudhoria, learned advocate appearing for the revenue/appellant, submitted that the share application forms were not produced by the assessee and the learned Tribunal ignored that fact. We are unable to accept this submission. The share application forms, it is in evidence, w .....

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