9911796707
TMI Blog2020 (12) TMI 1026X X X X Extracts X X X X X X X X Extracts X X X X ..... record pertaining to the Income-tax return of the assessee and without consulting the relevant record, the Assessing Officer formed the belief on the basis of the information received from the Investigation Wing. The said information, should have been verified after correlating with the records of the assessee and thereafter the AO could have formed the belief that the said amount shown to have been received by the assessee from a concern of Shri Vipin Garg was, in fact, an accommodation entry or not. Assessing Officer had failed to properly apply his mind and the belief formed by the Assessing Officer regarding escapement of income of the assessee was based on mere suspicions only. Therefore, the reopening of the assessment without ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the same were produced during re-assessment proceedings and the same were not rejected by the Assessing Officer u/s. 145(3) and no defects were found and, as such, addition made without rejecting the books is not justified. 5. That the Ld. CIT(A) has erred in dismissing the appeal of the appellant and confirming the addition of ₹ 5,80,750/- made by the Assessing Officer on vague ground and without any material on records. 6. That the Authorities below have merely relied on the report of the Investigation Wing about the statement of Sh. Vipin Garg and Others at the back of assessee and no opportunity to cross examine Sh. Vipin Garg have been granted to the appellant, which is against the principle of natural justice as per t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... PAN of the assessee N.A. Assessment year 2011-12 Details of the Assessing Officer having jurisdiction over the assessee Income tax Officer, Ward-2, Jind Reasons for reopening of the assessment in case of Kappor Rice and General Mills, Jind for the A.Y. 2011-12 under section 147 of the Income tax Act. 1961 As per the information in possession of this office, the assessee has made accommodation entry through Shri Vipin Garg R/o Ch. Dadri who have floated several paper concerns for layering and entry purposes amounting to ₹ 5,75,000/-. As per office record, the assessee. Has not filed his return ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fficer Ward-2, Jind 5. The Ld. Counsel for the assessee, at the outset, has submitted that the Assessing Officer did not apply his mind to the information received from Investigation Wing. He did not make any independent enquiry to satisfy himself that income of the assessee had escaped assessment. That the Assessing Officer merely on the basis of information received from the Investigation Wing regarding the receipt of an amount of ₹ 5,75,000/- formed the opinion that the said amount was the own money of the assessee routed through Shri Vipin Garg. He did not choose to verify the Income Tax Return and other documents and accounts of the assessee to form an independent view that the said amount was an accommodation entry and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... audited and there were no allegation of any bogus purchases made by the assessee in respect of which the sales in question were made. 6. The Ld. DR, on the other hand, has submitted that since the Assessing Officer had received information from the Investigation Wing that the assessee had received accommodation entries from one Shri Vipin Garg and even the said Vipin Garg had made a statement in relation to the assessment of his income that he was involved in accommodation entries, hence, the Assessing Officer has rightly formed the belief that the income of the assessee has escaped assessment. 7. I have considered the rival submission of the Ld. Representatives of the parties. No doubt, the Assessing Officer had received information ..... X X X X Extracts X X X X X X X X Extracts X X X X
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