9911796707
TMI Blog2021 (8) TMI 855X X X X Extracts X X X X X X X X Extracts X X X X ..... the Act on 01.03.2005 at income of Rs. 25,81,000/-. Subsequently, the case of the assessee was reopened u/s 148 of the Act after recording following reasons:- "Assessment in this case was completed at an income of Rs. 25,81,000/- on 01.03.2005. As per the information received from Investigation Wing, Income Tax Department, New Delhi regarding list of Accommodation Entries, the above mentioned assessee was found to have taken accommodation entries amounting to Rs. 30,03,390/- from the following parties. i. Swetu Stone Pvt. Ltd. amounting to Rs. 15,01,875/- ii. Sekhawa Finance Pvt. Ltd. amounting to Rs. 15,01,515/- During the course of search/survey on the above parties, it has been proved that said companies/parties are involved in g ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ission or evidence filed and therefore, confirm the Additions even without considering the GOA. 2. Whether the Ld. CIT( A) was justified by upholding the order of Ld. A.O. that they is no infirmity / illegality by assuming the jurisdiction u/s 147 and there are no difference even if allegation based upon the statement of company i.e. the provider that transaction entered are in the nature of Accommodation entries. 3. Whether the LD CIT( A) was justified by holding that there is no illegality by issuing notice u/s 148 because the same have been issued after proper approval as required u/s 151(2). 4. Whether the LD CIT( A) was justified by holding that there is no illegality by making additions u/s 68 on account of unexplained credit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the transactions, the AO invoking the provisions of section 68 of the Act made addition of Rs. 31,03,390/-. We find due to non-appearance of the assessee before the learned CIT(A) despite number of opportunities granted, the learned CIT(A) in the ex-parte order passed by him sustained the addition made by the AO. It is the submission of the learned counsel for the assessee that in the interest of justice, the assessee be given an opportunity to substantiate its case before any of the lower authorities. Considering the totality of facts of the case and in the interest of justice, we deem it proper to restore this issue to the file of the learned CIT(A) with a direction to grant one final opportunity to the assessee to substantiate its cas ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
