2016 (9) TMI 1005

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.... ) 1. Leave to amend. 2. The Revenue is in appeal against the judgment of the Incometax Appellate Tribunal, raising following question of law for our consideration. "Whether on the facts and in the circumstances of the case and in law, the order of the Hon'ble ITAT is perverse in deleting the addition of Rs. 68,45,000/on account of unsecured loans from sister concerns in the fac....

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....y the impugned judgment, dismissed the Revenue's appeal and has observed as under: "7. From this, Assessing Officer observed in the remand report that the balances as reflecting in the balance sheet of the assesseecompany for the year under appeal were also appearing in the ledger accounts provided by the assessee company and the transactions claimed to be the loan transaction with th....

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.... Officer to verify the claim with respect to bank accounts of the assessee. The CIT(A) also held that in view of above direction of ITAT, reconstruction of ledger accounts from bank statements does not strictly amount to fresh evidence. In view of these factual findings as mentioned by the Assessing Officer in the remand report, the credit balances were found explained by CIT(A). These factual rea....