2013 (4) TMI 571

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... es. Assessee expressed its inability to produce them but AO did not consequent thereto conduct any inquiry and closed the proceedings. This is a case where the Assessing Officer has failed to conduct necessary inquiry, verification and deal with the matter in depth specially after the affidavit/confirmation along with the bank statements etc. were filed. Thus in the absence of these inquiries .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ment order saying that he had provided accommodation entries and the said statement conclusively proves that share money of Rs. 30,00,000/- allegedly received by the respondent-assessee from 5 companies are sham and bogus transactions. 3. We have examined the said contention and find that the assessee during the course of assessment proceedings has filed confirmation letters from the companies, .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X