2012 (4) TMI 603 - AT - Income Tax

Summary

Issues involved: The judgment deals with accommodation bills issued by M/s. Swen Television Ltd. for the assessment years 2006-07 and 2007-08.

For assessment year 2006-07:
The assessee filed its return declaring total income. Search and seizure operations revealed accommodation bills issued by companies connected to Shri S.K. Gupta. The AO conducted a survey and found group companies controlled by Shri S.K. Gupta issuing bills to the assessee. The assessee offered a sum for taxation but disputed certain bills as accommodation entries. The AO disallowed an expenditure of a specific amount due to lack of vital documents. The Ld. CIT(A) found that M/s. Swen Television Ltd. had actually rendered advertising services to the assessee, leading to the deletion of the disallowance.

For assessment year 2007-08:
The facts were identical to the previous year, and the findings of the earlier year were applied. Both appeals were dismissed based on the above considerations.