TaxTMI 
TaxTMI 
2014 (3) TMI 1131
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....convenience. 2 First we will deal with appeal in I.T.A.No. 826/JP/2009. The following grounds have been raised in this appeal:- '1. The Ld. CIT(A) has erred in facts and in law in confirming an addition of Rs. 1,30,35,000/- u/s 68 by treating the loan received from the following person as non-genuine:- a. Smt. Anupriya Johari 15,00,000/- b. M/s. Trimurti Enterprises 25,00,000/- c. Smt. Sita Devi Johari 15,00,000/- d. Smt.. Kanak Prabha Johari 10,00,000/- e. Smt. Shashi Johari 10,00,000/- f. M/s. Johari Jewellers (P) Ltd. 25,00,000/- g. Shri Ashok Akar 1,40,000/- h. Shri Ashok Kumar 35,000/- i. Shri Girish Paliwal 1,80,000/- j. Shri K.D. ....
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....Ld. CIT(A), who allowed a relief of Rs. 1,19,15,000/- vide order dated 03/09/2004 and sustained addition of Rs. 22,50,000/-. Against the said order of Ld. CIT(A), the assessee as well as the department filed appeals before the ITAT, Jaipur Bench wherein vide order dated 28/02/2007, the issue was set aside to the Assessing Officer with the following directions:- "As we have already held herein above that mere confirmation and payment through account payee cheques are not sufficient to establish the genuineness of the transaction, we thus set aside the first appellate order in this regard also while remanding the matter to the file of the AO to examine the correctness of claim of the assessee in this regard after affording adequate o....
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....this regard after affording adequate opportunity of being heard to the assessee and decide the matter accordingly as per law." 5. In accordance with the above directions, the Assessing Officer asked the assessee to prove the identity, creditworthiness and genuineness of the transactions in respect of the creditors. In response to that, assessee filed the reply stating therein that whatever evidence were available with the assessee, those were already filed and if further enquiry was required, the creditors may be summoned under section 131 of the Act. The assessee also admitted that he did not have any new evidence to prove the genuineness of the credits except the evidence already furnished. In view of those facts, the Assessing Officer....
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.... matter further. It was further stated that in the set aside assessment proceedings, the assessee filed the complete postal addresses of the creditors/confirmations/their affidavits with the Assessing Officer. It was further stated that the creditors pertaining to Johari Group of Rs. 1 Crore were involved in a dispute with the assessee, they had filed a FIR against the assessee and his family members which itself proved the fact that genuinely those loans were taken by the assessee. It was further stated that the creditors to the extent of Rs. 14.25 Lac were already assessed in block assessment. Therefore, the said addition was not required to be made. 7. The learned CIT(A), after considering the submissions of the assessee, observed tha....
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....before the Assessing Officer who issued summons under section 131(1) of the Act to those creditors. Summons were served on 10 persons and 03 persons were refused to accept it and in remaining cases, either the house was found closed or the person left without address. It was stated that the assessee filed present addresses, but the summons had not been issued on the new addresses. Therefore, the Assessing Officer was not justified in making the addition on the ground that further evidence to prove the genuineness of credit was not furnished. It was further submitted that a detailed submission, copy of which is placed at pages 1 to 33 of the assessee's paper book, was furnished to the Ld. CIT(A), who without appreciating the facts had confir....
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....him by the assessee. Accordingly, the issue is remanded back to the file of Ld. CIT(A) to be adjudicated afresh in accordance with law after providing due and reasonable opportunity of being heard to the assessee. 11. In I.T.A.No. 287/JP/2009, the following grounds have been raised:- "1. The Ld. CIT(A) has erred in facts and in law in confirming an addition of Rs. 38,27,913/- u/s 68 by treating the loan received from the following person as non-genuine:- Sr. No. Particulars Amount 1. M/s. Sheetal Suitings Pvt. Ltd. 8,00,000/- 2 Smt. Suraj Devi Modi 1,00,000/- 3 Bansal Exports 10,00,000/- 4 Shri Ganpat Lal Sarda 75,000/- 5 M/s Italin Jewellery Mfg. Co. 10,08,000/- ....