TaxTMI 
TaxTMI 
2014 (9) TMI 1175
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....epresented on behalf of the Revenue. 3. In the assessee's appeal, assessee has raised the following grounds: - (1) For that on the facts of the case, the order passed by the Ld. CIT(A) is completely arbitrary, unjustifiednand illegal. (2) For that on the facts of the case, the ld. CIT(A) has dittoed the order of the AO which is completely arbitrary, unjustifled and illegal. (3) For that on the facts of the case, the ld. CIT(A) was wrong in dittoing the order of the AO and confirming the addition as unexplained cash credit u/s 68 amounting to Rs. 41,15,000/- which is completely arbitrary, unjustified and illegal. (4) For that on the facts of the case, the ld. CIT(A) was wrong by confirming the charging of interest under section 234A....
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....see was introducer. It was the submission that though some had also appeared before the Assessing Officer and had also confirmed the transactions of giving the unsecured loans to the assessee. It was the submission that all the persons who had given the unsecured loans were dealers of paddy and were also agriculturists and the assessee was the partner of the firm which was running a Rice Mill. It was the submission that the assessee's case was covered by the decision dated 21.09.2011 of the Hon'ble jurisdictional High Court in the case of CIT, Kolkata-III -vs.- Dataware Private Limited in ITAT No. 263 of 2011 (Original Side) (G.A. No. 2856 of 2011), wherein it had been held as follows: - "In our opinion, in such circumstances, the Assessi....
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....of the order of coordinate Bench of this Tribunal in the case of Jyoti Saraf -vs.- ITO, Ward-35(2), Kolkata in ITA No. 2677/Kol/2013, order dated 15.07.2014, wherein on identical circumstances the addition had been deleted. 5. In reply, ld. JCIT, D.R. vehement ly supported the order of the Assessing Officer and ld. CIT(Appeals). 6. We have considered the rival submissions. A perusal of the paper book as filed by the assessee shows that the assessee has provided Permanent Account Numbers and the confirmation of the loans by al l the loan creditors. Further a perusal of the paper book clearly shows that al l the creditors are assessed to income tax and they have filed their returns of income for the assessment year 2006-07 in March, 2007. T....