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TMI Blog2018 (2) TMI 1945X X X X Extracts X X X X X X X X Extracts X X X X ..... hat it was made years later. At the same time, this Court for another Assessment Year (AY 2002-03) held that whilst it was open to the AO to not rely upon the statement taken into account or rather ignore the retraction, yet, primary duty to verify the soundness of the claim of having been made genuine payment had to be gone into and verified. This was not done and consequently in Principal Commis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... de assessment under Section 143(1) in the first instance on the returns of the assessee under Section 141 of the Act; later, acting upon the information received, assessment was re-opened and a sum of ₹ 1,39,32,757/- was brought to tax on the ground that it represented bogus claims for payments made towards the services rendered. The CIT(A) and ITAT set aside the re-assessment on the ground ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ment, brushing aside the later statement, on the ground that it was made years later. At the same time, this Court for another Assessment Year (AY 2002-03) held that whilst it was open to the AO to not rely upon the statement taken into account or rather ignore the retraction, yet, primary duty to verify the soundness of the claim of having been made genuine payment had to be gone into and verifie ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ould not be sustained, as the entries with respect to the service providers were bogus. The AO premised his findings largely upon statement of one Mr. S.K. Gupta on 13.12.2006, who stated that he had provided entry accommodation to various entities. Upon appeal, the CIT(A) deleted the additional sum i.e. ₹ 1.14 Crores after verifying the expenses and observing that the payments wer ..... X X X X Extracts X X X X X X X X Extracts X X X X
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