2009 (3) TMI 473

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... "Whether on the facts and in the circumstances of the case and in law the hon'ble Tribunal was right in deleting the addition of Rs.7,41,17,495 made by the Assessing Officer towards unexplained cash credits even though the assessee company had not proved the creditworthiness of the creditors to advance the loans to the assessee company?" 2. In the instant case, the Assessing Officer has disallo....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....case, the learned counsel admits that so far as identity is concerned, the parties have been identified and similarly in the books of account produced by them corresponding entries were found The learned counsel submits that one of the predicate, namely, capacity to advance loan was not established, and the Income-tax Appellate Tribunal ought to have restored the matter to the Assessing Officer fo....