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TMI Blog2023 (8) TMI 73X X X X Extracts X X X X X X X X Extracts X X X X ..... uation, we find no reason to interfere with the order of CIT(A). Thus the grounds of assessee are dismissed. - ITA No. 3511/Del/2011 - - - Dated:- 24-5-2023 - SH. ANIL CHATURVEDI, ACCOUNTANT MEMBER AND SH. ANUBHAV SHARMA, JUDICIAL MEMBER For the Assessee by --None- For the Revenue by Shri Kumar Parnav, Sr. D.R. ORDER PER ANIL CHATURVEDI, AM: This appeal filed by the assessee is directed against the order dated 28.04.2011 of the Commissioner of Income Tax (Appeals)-XXI, New Delhi relating to Assessment Year 2004-05. 2. Brief facts of the case as culled out from the material on record are as under:- 3. Assessee is a company who filed its return of income for A.Y. 2004-05 on 31.03.2005 declaring loss o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... had come from the coffers of the shareholders. He accordingly upheld the order of AO. 5. Aggrieved by the order of CIT(A), assessee is now in appeal before the Tribunal wherein assessee is challenging the reassessment proceedings as well as the addition made on merits. 6. The case file reveals that the appeal was filed by the assessee in the year 2011. The matter was fixed for hearing several times in the past but there was no appearance on behalf of the assessee nor any adjournment application was filed on those dates. It is also seen that the notice issued by the Registry through RPAD was returned unserved. In case of any change of address, it is for the assessee to file revised Form No. 36 duly mentioning the new address. Preferri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed financials etc which is essential to determine the identity of the creditor, the capacity of the creditor and the genuineness of the transaction or have produced any of the directors of the assessee company and also failed to produce the directors of the companies who had advanced these money. It appears that the web of these companies are maintained by a group and this facts can easily be examined from the ROC that who were those directors during the AY and are they employee of that group or actually engaged in any actual activities. This can be said after naming the directors today dated 17.05.2023 who are conduit and connected either with the same address or common director or have remained director in some other company of that group ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 748947 Lehra Investments Pvt. Ltd 14.02.2003 29.09.2003 6 867660 758804 Sarang Securities Ltd 30.08.2003 04.08.2004 7 916239 707636 Worldlink Telecom Ltd 26.12.2003 07.09.2005 This company SG Fincap Pvt. Ltd. is strike off now. The CIT(A) has found that the all the above company were maintaining double accounts. Cash were deposited in the parallel account and subsequently transferred to another account by way of cheque to show that there is n ..... X X X X Extracts X X X X X X X X Extracts X X X X
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