CIT Cannot Amend AO's Order if Transaction is Genuine; Section 56(2)(vii) Inapplicable to Alleged Paper Transactions.

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....Addition u/s 56(2)(vii) - As regards the contention of the CIT D/R this is only a paper transaction, we note that the AO has not doubted the transaction either during the course of assessment proceedings or during the course of remand proceedings. Therefore, such a plea cannot be considered or accepted which is contrary to the stand of the AO. Even otherwise, the LD. CIT D/R can only support the order of the AO and cannot improve the same. Further, if the transaction itself is not a genuine transaction, then the question of applying the provisions of section 56(2)(vii) does not arise. - AT....