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TMI Blog2014 (6) TMI 404X X X X Extracts X X X X X X X X Extracts X X X X ..... ration, which has not been accounted for by the assessee - In spite of the repeated attempts by the assessee requesting for the details the assessee has not been furnished with the same - the assessee has discharged the onus that lay on it by furnishing all the necessary documentary evidences and whereas the Revenue has failed in its duty to discharge the burden that lay on it – thus, the addition is liable to be set aside – Decided in favour of Assessee. - ITA Nos. 6246 and 6247/Del/2012 - - - Dated:- 2-6-2014 - Shri J. Sudhakar Reddy, AM And Shri Rajpal Yadav, JM,JJ. For the Appellant : Mr. Sunil Arora, F.C.A. Mrs.Ruchika Jain, C.A. For the Respondent : Ms. Nidhi Srivastava, Sr. D. R. ORDER Per J. Sudhakar Reddy ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... efore us on the following grounds. 1. Under the facts and circumstances of the case, the Ld.AO has grossly erred in making an addition of Rs.30,84,043/- to the returned income of the assessee as income from undisclosed sources which is without any evidence, arbitrary, based on surmise and conjectures, without application of mind and against the facts of the case. 2. Without prejudice to the ground of appeal no.1, and under the facts and circumstances of the case, the assessment order u/s 147 passed by the Ld.AO is invalid and bad at law as the reopening of assessment is based on incomplete and improper reasons to believe. 3. Without prejudice to the ground of appeal no.1, and under the facts and circumstances of the case, the asse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is undisclosed income in the hands of the assessee. He argued that there is no independent application of mind by the Assessing Officer. He further submitted that a notice u/s 148 was not served on the assessee and hence the reassessment is bad in law. He contended that the Assessing Officer has not obtained the approval of the JCIT as prescribed u/s 151(2) of the Act before the reopening of assessments. 4.1. On merits he submits that the assessee has accounted for all the receipts from M/s Komori Corporation, Japan and that there is no undisclosed income. He submits that the assessee has furnished complete records before the Assessing Officer. He submits that the only information that the Assessing Officer had against the assessee, was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... book; iv. Ledger a/c of M/s Komori Corporation in the books of the assessee for the period 1.4.2004 to 31.3.2005. A copy of the same is enclosed on page no.18 to 22 of the paper book; v. FIRC s in respect of remittances received from M/s Komori Corporation during the relevant year. Copies of the same on sample basis are enclosed on page no.23 to 27 of the paper book; vi. Invoices issued to M/s Komori Corporation during the relevant year. Copies of the same on sample basis are enclosed on page no.28 to 29 of the paper book. 4.2. He argued that the addition u/s 68 is bad in law, if it is the case of the Revenue that the amount in question is not credited in the books of accounts. He pointed out that the addition can be made u/s 68 o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... it case for the issue of such notice. The Revenue has not demonstrated that this provision of law has been complied with. On this sole ground the reopening has to be quashed as bad in law. The assessee submits that the notice u/s 148 has not been served on him. A perusal of the assessment orders demonstrate that the Assessing Officer claims to have issued the notice to the assessee that the fact of service is not recorded. The assessee group participated in the reopening proceedings. Under the circumstances S.292BB applies and this ground of the assessee is not sustainable. 8. The next argument is that the reopening is bad in law as there is no independent application of mind by the Assessing Officer and that the reasons are inadequa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... arding receipts made to assessee company, (b) Statements showing reconciliation of receipts from Komori Corporation, Japan in the books of accounts of the assessee, (c) ledger a/cs from Komori Corporation in the books of the assessee, (d) Invoices issued to M/s Komori Corporation and foreign inward remittance certificates from the City Bank with respect to the remittances received from Komori Corporation. 10. The Revenue has not been able to specifically point out as to which is the particular remittance made by M/s Komori Corporation, which has not been accounted for by the assessee. In spite of the repeated attempts by the assessee requesting for the details the assessee has not been furnished with the same. In our view the as ..... X X X X Extracts X X X X X X X X Extracts X X X X
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