9911796707
TMI Blog2009 (7) TMI 1393X X X X Extracts X X X X X X X X Extracts X X X X ..... Name of the company/individual Amount (Rs.) 1. Shri Vinay Rai 12, Aurnagzeb Lane, New Delhi 5,00,000/- 2. Gordon Herbert (India) Limited 94, Mahatama Gandhi Road, Lucknow. 89,00,000/- 3. Koshika Telecom Limited B-309, IIIrd Floor, Ansal Chamber-1, 3, Bhikaji Cama Place, New Delhi. 1,00,00,000/- 4. Information Technologies (India) Limited Shankar Vihar Colony, Hardooi Road, Lucknow. 1,00,00,000/- 2,94,00,000/- 2. The Assessing Officer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... does not establish the genuineness of the donations claimed to have been received from them. As regards the production of the representatives/directors of three parties before the AO in response to summons u/s 131, I have perused the statements of these persons recorded by the AO on 24.3.05. Sh. M.N. Choudhary, director of Information Technologies India Ltd. In his statement had no knowledge about filing of Income-tax return of the company after asstt. Year 1995-96. He stated that he had joined the company w.e.f. 16.6.03 and the earlier aspect was not know to him. He further stated that all the records of the company were lying in the registered office at Lucknow. He also stated that he was not aware of the taxation matters and regarding f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ee are some of the many companies and floated by Usha Group in order to siphon off money from one party to another thereby evading taxes. The AO has also stated that these companies are obviously bogus companies floated to transfer funds form one entity to the other. These findings of the AO are very crucial to decide the issue and no comments were offered on the same. The issue regarding floating of bogus companies and trusts for siphoning off of funds had also come up prominently in the case of M/s Usha Foundation, another trust of Usha Group in the asstt. Year 2001- 02 and similar addition in respect of corpus donations made in the case of that trust was upheld by CIT (A). In the light of these facts and circumstances stated above, I am ..... X X X X Extracts X X X X X X X X Extracts X X X X
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