TaxTMI 
TaxTMI 
2019 (5) TMI 187
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....ITA No.144/CTK/2018 for adjudication. 3. Ground Nos.2 & 3 of appeal are general in nature and hence, requires no separate adjudication by me. 4. The sole effective issue in this appeal is that the CIT(A) erred in confirming the addition of Rs. 7,34,000/- made by the Assessing Officer. 5. I have heard the rival submissions, carefully gone through the relevant materials placed on record of the Tribunal. 6. Ld A.R. of the assessee submitted that on being asked by the Assessing Officer, the assessee submitted entire details pertaining to the persons who have given hand loan in cash to the assessee. Ld A.R. further submitted that the assessee received loans in cash from the relatives and friends, which were deposited in the bank acco....
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....grossly erred in confirming the addition for want of Adhar Card of the creditors despite the fact that the assessee submitted the PAN Nos. alongwith names and address pertaining to all creditors who provided cash loans to the assessee. Ld A.R. submitted that the assessee has submitted all the possible and relevant documentary evidence before the lower authorities establishing the identity, existence and creditworthiness as well as capacity of the creditors. Therefore, no addition is called for in this regard. 7. Ld A.R,. further submitted that the Adhar Card cannot be held as most necessary and important document to prove the identity, existence and genuineness of the persons ignoring the fact the documents in respect of names, address a....
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....the triggers of section 269SS of the Act. Further, from the relevant operating para of the first appellate order especially para 3.7, I observe that the CIT(A) also did not make any verification and proceeded to confirm the addition for want of Adhar Card and for want of confirmation of creditors regarding repayment whereas the assessee did file confirmation of loan creditors before the Assessing Officer which were dismissed on hyper technical ground that the date of providing loan has not been mentioned therein. 10. In view of foregoing discussion, I am of the considered view that the authorities below did not verify or examine the identity, creditworthiness or genuineness of the transaction despite the fact that the assessee submitted ....
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....y the CIT(A) on the sole ground that the assessee has not furnished Adhar Cards of the creditors. Therefore, the findings arrived at by the Assessing Officer as well as the CIT(A) are not correct and justified and same are perverse and, therefore, same are dismissed. I am satisfied that the assessee has submitted all relevant details and documentary evidences pertaining to all loan creditors alongwith the supporting confirmations and these vital evidences cannot be ignored without making any verification or examination. Finally, I hold that since the assessee has established the identity, creditworthiness and genuineness of the transaction, therefore, no further addition is called for in this regard. Therefore, the addition made by the a....