2012 (10) TMI 673

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....,438/- on account unexplained cash credits as, in contravention of the provisions of Rule 46A reasonable opportunity was not afforded to the Assessing Officer to consider the evidence provided by the assessee as the appellate stage. Reliance is placed on the decision of Hon'ble Kerala High Court in the case of C. Unnikrishanan vs. C.I.T. (233 ITR 485), and ITAT, Delhi in the case of Asian Needless Pvt. Ltd. in I.T.A. No. 3234 to 3237/Del/2009 dated 06.11.2009. ii) The appellant craves leave for reserving the right to amend, modify, alter, add or forego any ground(s) of appeal at any time before or during the hearing of this appeal." 3. In this case assessment was framed u/s. 144 of the I.T. Act. Assessing Officer held as under:- "D....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....sioner of Income Tax (A) forwarded the new evidence to the Assessing Officer for his remand report. Ld. Commissioner of Income Tax (A) further reproduced the following portion of the remand report. "As per assessment order, it was noted that the main addition was made on a/c of unverified unsecured loans amounting to Rs. 96,65,438/-. Therefore, the notice u/s. 133(6) issued to the concerned parties from the assessee was received unsecured loans. The reply of these parties received in this office and placed in the file in which the loan transaction has been shown." 4.1 Considering the remand report Ld. Commissioner of Income Tax (A) asked the assessee to file the rejoinder in this regard. Assessee submitted as under:- "That in respo....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... from the aforesaid creditors. Hence, the provision of 68 of the I.T. Act does not apply in this case. Hence, the provision of 69 of the I.T. Act does not apply in this case, thus the additions of Rs. 96,65,438/- as made by the Assessing Officer is deleted. The Assessing Officer is directed to send the copy of confirmatory letters of these two creditors to their AOs (A.O. of M/s Pilot Consultants Ltd. is Circle 10, Kolkata and A.O. of M/s Sajeevani Estates (P) Ltd. is DCIT, Circle 7, Kolkata) for necessary action at their end. Relief of Rs. 96,65,438/- is allowed." 5. Against the above order the Revenue is in appeal before us. 6. The only grievance of the Revenue is that Ld. Commissioner of Income Tax (A) has erred in deleting the add....