2017 (11) TMI 463

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....arth Ranka JUDGMENT 1. By way of this appeal, the appellant has challenged the judgment and order of the Tribunal whereby the Tribunal has dismissed the appeal of the department. 2. This court while admitting the appeal on 14.12.2016 framed the following question of law:- " 1. Whether in the Tribunal is justified in law and on facts in deleting the addition of Rs. 2.16 crore made....

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....assessment was completed on 30/12/2010. In interim report, as per Assessing Officer in 9 cases, notices were returned back but it was not informed to the assessee about the conclusion of the enquiry by the ADIT, Kolkata or Assessing Officer of the assessee. The ld Assessing Officer heavily relied on the Inspector's report in confirming the addition but result of the enquiry of the Inspector has no....

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...., genuineness and creditworthiness of the cash creditors. The ld Assessing Officer herself had accepted the remaining cash creditors to the tune of Rs. 3.95 crores explained on the basis of similar evidences produced by the assessee as genuine. The loan/share capitals were received from the private limited companies. They also are filing return under the company's law and all information is availa....

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....inced us that these parties were in accommodation entries in form of loan and share application money after charging certain commission as such no survey/search has been carried out on the creditors to prove that these companies are habitual to provide loan/share application money even there is no evidence with the ld DR for making such allegation during the course of written submissions. The case....