9911796707
TMI Blog2021 (2) TMI 678X X X X Extracts X X X X X X X X Extracts X X X X ..... ned Representatives of both the parties through video conferencing and perused the material on record. 3. Briefly the facts of the case are that original return of income was filed by the assessee-company on 29.09.2011 declaring income of Rs. 1,23,511/-.The DDIT (Inv.), New Delhi informed that there is a news items in the electronic and print media during first half of February 2015 about donation given to Aam Aadmi Party ("AAP") by four allegedly bogus companies. A search was conducted in the residential and office premises of Shri Deepak Agarwal and Shri Mukesh Kumar which reveal certain documents. Several statements were recorded during the pre-search and post-search operation. From the material on record and statements of these persons ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es by PIPL (ii) Copy of Memorandum of Association and Articles of Association of PIPL, (iii) Copy of ITR for the A.Y 2011-12 of PIPL (iv) Balance sheet of PIPL for the A.Y. 2011-2012 (v) Copy of Board resolution of PIPL for making investment in shares of assessee company. (vi) Copy of bank statement of PIPL (vii) Copy of the affidavit of the Director of PIPL confirming transaction with assessee company. (viii) Copy of acknowledgment of receipt of shares by PIPL. The assessee submitted that no independent enquiry have been conducted on these documentary evidences by the A.O. and even the Investor has not been summoned for recording their statement. The A.O. did not provide any opportunity to cross-examine to the statements of Shri Deepak Aga ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Ariba Foods Pvt. Ltd., Dated 11.01.2021. 5. On the other hand, Ld. D.R. relied upon the Orders of the authorities below. 6. We have considered the rival submissions and perused the material on record. It is not in dispute that reopening of the assessment was made on the basis of the search conducted in the cases of Shri Deepak Agarwal and Shri Mukesh Kumar. Their statements were also recorded which were adverse in nature against the interests of the assessee. Certain documents were also found during the course of search from their premises to reveal that they have been providing accommodation entries. However, the details of the same have not been mentioned in the assessment order. Thus, the basis for reopening of the assessment and ma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Ltd., (supra). In view of the above, it is clear that right of assessee have been denied by the authorities below in not allowing the assessee to cross-examine the statements of Shri Deepak Agarwal and Shri Mukesh Kumar. Thus, these statements recorded at the back of the assessee which were adverse in nature to the interest of assessee cannot be relied upon against the assessee and no addition could be made on that basis. The decisions relied upon by the Learned Counsel for the Assessee above also apply to the facts and circumstances of the case. Thus, there is no material left on record with the Department to justify the addition of Rs. 10 lakhs against the assessee. It may also be noted here that assessee has produced the above documentar ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
