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TMI Blog2009 (12) TMI 33X X X X Extracts X X X X X X X X Extracts X X X X ..... ment, the assessee had supplied the list of the persons along with their addresses to whom the shares were sold. The said list contained information, such as name, address and number of shares allotted. The AO issued enquiry letter under Section 133 (6) of the Act at random basis to 25 persons, out of whom some persons did not respond - Merely because some of the persons did not respond to the notice issued by the Assessing Officer under Section 133 (6) of the Act, it cannot be taken that the said transaction was ingenuine. - IT Appeal No. 618 of 2009 - - - Dated:- 2-12-2009 - MR. S ATIS H KUMAR MITTAL and MR. MEHINDER SINGH SULLAR, JJ. Present: Ms. Urvashi Dhugga, Advocate, for the appellant-revenue. SATISH KUMAR MITT ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... xplained share capital besides other additions. On appeal filed by the assessee, the CIT (A) vide its order dated 9.8.2000 set aside the assessment order and remanded back the matter to the Assessing Officer to frame the assessment afresh after providing full opportunity of being heard to the assessee. Thereafter, the Assessing Officer completed the assessment under Section 143 (3) read with Section 250 of the Act and again made the aforesaid two additions. The assessee again filed appeal against the order of the Assessing Officer. The CIT (A) deleted both the aforesaid additions. The appeal filed by the revenue against the order of the CIT (A) has been dismissed by the ITAT. Hence, this appeal. 3. We have heard learned counsel for the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Regarding the addition of Rs. 15,00,000/- on account of unexplained share capital, it has been held that at the time of the original assessment, the assessee had supplied the list of the persons along with their addresses to whom the shares were sold. The said list contained information, such as name, address and number of shares allotted. The Assessing Officer had issued enquiry letter under Section 133 (6) of the Act at random basis to 25 persons, out of whom some of the persons confirmed the genuineness of the transaction. However, some persons did not respond. In view of this fact, out of the total share capital of Rs. 54,28,500/-, the Assessing Officer made an addition of Rs. 15,00,000/- by treating the sources of share capital of thos ..... X X X X Extracts X X X X X X X X Extracts X X X X
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