2013 (10) TMI 708

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....has been served but there is no appearance on their behalf. 2. We have heard the counsel for the appellant-Revenue, who submits that an order of remand has been passed but there are observations in paragraph 18.2 which may be misconstrued as observations which have tied the hands of the Assessing Officer. 3. Having heard counsel for the appellant, the following substantial question of law is....

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....ndent was unable to discharge the onus, and prove genuineness of the receipt of Rs.63,00,000/- as share application money. Bank accounts statement of the said 11 companies/share applicants disclosed that they were providing accommodation entries to the beneficiaries. Accordingly, addition of Rs.63,00,000/- was made. Another addition of Rs.31,500/- was made as commission paid by the respondent-asse....

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....al decisions including decision of Delhi High Court in the case of CIT Vs. Nova Promoters and Finlease (P) Ltd. (2012) 342 ITR 169 (Del.) in which decision of the Supreme Court in Lovely Export Pvt. Ltd. (supra) and CIT Vs. Orissa Corporation (P) Ltd. (1986) 159 ITR 78 (SC) have been considered. Thereafter, the following directions have been issued:-    "18.1 In the light of view take....

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....d vice versa.    18.3 In view of the foregoing, we consider it fair and appropriate to set aside the order of the ld. CIT(A) and restore the matter to the file of the AO for deciding the issues raised in the ground nos.2 and 2.1 in the appeal, afresh in accordance with law in the light of our aforesaid observations and various judicial pronouncement, including those referred to above ....