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TMI Blog2019 (3) TMI 1035X X X X Extracts X X X X X X X X Extracts X X X X ..... sustainable of the addition u/s 68/69 of the Act. Therefore,the matter should travel to the file of the CIT(A) for want of a speaking order after considering the above stated arguments raised by the assessee before us - Appeal of the assessee is allowed for statistical purposes. - ITA No.555/PUN/2018 - - - Dated:- 18-3-2019 - Ms. Sushma Chowla, JM And Shri D. Karunakara Rao, AM For the Appellant : None For the Respondent : Shri M. K. Verma ORDER PER D. KARUNAKARA RAO, AM : This appeal is filed by the assessee against the order of CIT(A)-8, Pune dated 27.12.2017 for the Assessment Year 2011-12. 2. The grounds raised by the assessee are as under :- 1) Ld. CIT Appeal Pune has erred in dismissing appeal and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... credit. 5. Before us, there was none to represent the assessee despite service of notice. On considering the smallness of the issue, we proceed to hear the appeal with the assistance of ld. DR. Ld. DR for the Revenue submitted that the assessee is a salaried employee and he does not maintain the books of account. During the year, the assessee sold the plot of land along with co-owners and his share comes to ₹ 9.5 lakhs. The resultant capital gains were reinvested as per the provisions of section 54F of the Act. The Assessing Officer accepted the said claim of the assessee. However, the Assessing Officer noticed that the assessee took loan of ₹ 50,000/- each from 10 persons totalling to ₹ 5,00,000/-. The said amount was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on of the appellant could not have been accepted by the A.O. Even during the course of appellate proceedings, the appellant has not submitted any additional evidence or written submissions or documentary evidence to substantiate his claim. Accordingly, the addition of ₹ 5,00,000/- made by the A.O. is upheld. Ground No.1 is Dismissed. 6. On hearing the ld. DR, ongoing through the submissions extracted by the Assessing Officer and the CIT(A) in their respective and the evidences furnished in the Paper Book, we find the assessee furnished the confirmation letters, although there is a problem with respect to the PAN numbers of the creditors. The assessee could not furnish the PAN numbers of the creditors on one side and bank statemen ..... X X X X Extracts X X X X X X X X Extracts X X X X
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