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TMI Blog2018 (1) TMI 1406X X X X Extracts X X X X X X X X Extracts X X X X ..... ition of law that statement or the evidence which is being relied upon by the AO for making the addition in the hands of assessee, the same should be confronted to the assessee and the assessee should be allowed to cross-examine the witness in this regard. From a careful perusal of the orders of lower authorities, it is quite evident that statement of Mr. Mukesh Choksi was relied on for making the addition, but assessee was never allowed to cross-examine him. AO was not justified in making addition in the hands of assessee, without allowing the assessee to cross-examine Mr. Mukesh Choksi, whose statement was relied upon for making the above additions. Accordingly set aside the order of CIT(Appeals) and restore the matter to the file of AO w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er section 68 of the Income Tax Act (the Act) is wrong and requires to be made as Nil on the facts of the case. 7. The authorities below erred in not providing an opportunity to cross examine the third party whose statements were used against the appellant on the facts of the case. Thus, the order passed is opposed to principles of natural justice and requires to be deleted on the facts of the case. 8. The authorities below merely on suspicion and surmise treated the transactions made by the appellant as accommodative and bogus in nature and thus the addition made of ₹ 34,28,455/- needs to be deleted for the substantial cause of advancement of justice. 9. The action of the learned assessing officer in stating that the transactio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h Sunrise Asian Limited as sham merely because the company was investigated by Kolkata Investigation Directorate is untenable and unsustainable in the eyes of law. 14. The appellant denies himself liable to be levied to interest under sections 234A. 234Band 234C of the Act and further the computation of interest was not provided to the appellant as regard to the rate, period and method of calculation of interest under the facts and circumstances of the case. The appellant expressly urges that the period of levy of interest is not in accordance with sections 234A, 234Band 234C of the Act. 15. Without prejudice, the interest levied under sections234A, 234B and 234C of the Act requires to be waived off under the facts and circumstances of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... "5. Having carefully examined the orders of lower authorities in the light of rival submissions, I find that during the course of search conducted upon the Mukesh Choksi group, statement of Mukesh Choksi was recorded and in his statement he has admitted that he was providing accommodation entries to those who were interested to earn capital gain. On a careful perusal of the assessment order, I find that there is no finding with regard to the supply of statement of Mukesh Choksi to the assessee. Moreover, nothing is available on record, wherefrom it could be inferred that assessee was ever allowed to cross-examine Mr. Mukesh Choksi. It is settled position of law that statement or the evidence which is being relied upon by the AO for making t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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