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TMI Blog2016 (1) TMI 1290X X X X Extracts X X X X X X X X Extracts X X X X ..... ddition in question has to be deleted. We therefore delete the addition and allow the appeal filed by the assessee. - ITA No. 3917/Del/2013 - - - Dated:- 7-1-2016 - SHRI J. SUDHAKAR REDDY, ACCOUNTANT MEMBER AND SHRI A.T. VARKEY, JUDICIAL MEMBER Appellant by: Sh. Ridhi Karan Aggarwal, C.A. Respondent by: Sh. K.K.Jaiswal, Sr.D.R. ORDER PER J. SUDHAKAR REDDY, ACCOUNTANT MEMBER This is an appeal filed by the assessee directed against the order of the Ld. Commissioner of Income Tax (Appeals)-XXII, New Delhi dated 31.01.2013 pertaining to the Assessment Year (A.Y.) 2008-09. 2. Facts in brief:- The assessee is an individual and is having income from house property, interest and remuneration from partnership firms as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he statement given before him. The order is based on conjecture and surmise, hence void ab initio. 5. The AO has erred in facts by not mentioning in the orders the complete facts and documents placed and submitted before him during assessment. Hence assessment based on partial records is merely an assessment of convenience and biased. Accordingly such assessment is liable to be quashed. 6. The AO is not justified in making addition under section 68 as unexplained deposit whereas all the documents and papers like bank statement, Copy of Election card, copy of documents related to his income from farming , etc were submitted before AO to prove the identity, genuineness and creditworthiness of the lender. 7. The AO has not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bank statement duly reflecting the loan transaction indicating his credit worthiness d. To substantiate the source of funds for lending to the appellant, copies of bills of sale proceds of agricultural commodities (From J) derived out of the family land holding (in the name of his father) were submitted before CIT(A) as additional evidence as the appellant could not obtain them from lender during assessment proceedings. 5.2. In our view the assessee has produced all necessary and possible evidence to prove the identity, creditworthiness, and genuineness of the transaction. The A.O. has simply rejected these evidences. There is no independent investigation by the A.O. There is no material with the A.O. to disprove the claim of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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