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TMI Blog2023 (2) TMI 460X X X X Extracts X X X X X X X X Extracts X X X X ..... e CIT(A) reveals that the ld. CIT(A) has thoroughly discussed the facts of the case and relied upon various decisions of higher courts.Ground No.2 raised by the Revenue is hereby dismissed. Addition u/s 69C - payments made by the assessee company to two people for land development business in respect of property - only contention raised by the Assessing Officer was that the aforesaid amounts were not accounted in the books of account of the appellant although these were debited from the bank account of the appellant - CIT-A deleted addition - HELD THAT:- CIT(A), has rightly held that since the Assessing Officer himself has noted that the amount was debited from the bank account of the assessee itself, therefore, there was no doubt rega ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... : 1. On the facts and in the circumstances of the case and in law, the Ld. CIT(A) has erred in allowing appeal of the assessee without appreciating the facts of the case. 2. The Ld. CIT(A) has erred in Law and in facts in deleting the additions of Rs.3,06,50,000/- made u/s 68 when the assessee has failed to bring on record any evidence to prove the credit worthiness and genuineness of the transaction of the creditors M/s Renovate Marketing Private Limited which is shell/paper company. 3. For that the Ld. CIT(A) has erred in Law and in facts in deleting the additions of Rs. 1,60,000/- made u/s 69C on account of unexplained expenditure. 4. The Appellant craves the leave to add/modify/alter any of the ground during the cour ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... counsel has submitted that the Revenue has not raised any ground against the aforesaid findings of the CIT(A) holding that the reopening of the assessment u/s 147 read with section 148 was bad in law. That the Revenue has contested the addition only on the merit and not on the legal point, therefore, the legal point decided by the CIT(A) has remained uncontested. Even if the appeal of the Revenue is allowed on merits, yet the very assessment framed by the Assessing Officer u/s 147 r.w.s. 148 has been held bad in law by the CIT(A) on the ground of validity of the reopening of the assessment, therefore, the appeal of the Revenue is liable to be dismissed on this score only. 6. Even during the appellate proceedings before us, no arguments h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lely relied upon the report of the Investigation Wing in making the impugned addition, whereas, the assessee has duly discharged its primary onus by furnishing the relevant details and evidences to prove the identity and creditworthiness of the creditor and genuineness of the transaction. A perusal of the impugned order of the CIT(A) reveals that the ld. CIT(A) has thoroughly discussed the facts of the case and relied upon various decisions of higher courts. 10. The ld. DR could not rebut the above findings of the CIT(A). 11. We, therefore, do not find any reason to interfere with the above findings of the CIT(A). In view of this, Ground No.2 raised by the Revenue is hereby dismissed. 12. In relation to Ground No.3, in respect of a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... TA No.65/GTY/2020 is hereby dismissed. 15. Now, coming to the Revenue s appeal in ITA No.66/GTY/2020 for assessment year 2014-15. The Revenue in this appeal has taken the identical Ground No.2 as taken in ITA No.ITA No.65/GTY/2020 for assessment year 2013-14, whereby, the Revenue has contested the action of the CIT(A) in deleting the addition made by the Assessing Officer of Rs.2,00,00,000/- in respect of loan transaction from M/s Renovate Marketing Pvt. Ltd. Since the facts and issues involved in this appeal are identical and in view of our findings given above while adjudicating Revenue s appeal in ITA No.65/GTY/2020, we do not find any merit in this appeal of the Revenue and the same is also hereby dismissed. 16. In the result, bot ..... X X X X Extracts X X X X X X X X Extracts X X X X
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