9911796707
TMI Blog2024 (9) TMI 1371X X X X Extracts X X X X X X X X Extracts X X X X ..... The Ld. Commissioner of Income Tax -(Appeals)-NFAC, erred in upholding the validity of Reopening of Assessment U/Sec 147. It is further submitted that considering the facts and circumstances of our case, the re-opening is unjust, unfair and bad-in-law. The re-opening should be deleted. 1.2 The Income Tax Officer 18(1)(1) Mumbai has re-opened the assessment on the basis of information received from the Investigation department of the Income Tax based on the Statement recorded of Mr Harish Chandak Proprietor of M/s Giriraj Enterprises. He grossly erred in relying on this Statement as it nowhere indicates that M/s Giriraj Enterprises had provided accommodation bills to the appellant and also inspite of the specific written request of the ap ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 017 and stated in his Cross Examination that he had supplied goods to the assessee from his Bhivandi Godown and had received payments thru cheque and had never given any cash to the assessee. Ground No.3: Misinterpretation of ITAT Order: Income Tax Officer 18(1)(1) Mumbai has erroneously taken business income as Rs 11,35,912 & adding Rs 15,32,997 misinterpreting the benefit provided by Honorable ITAT in order No ITA No. 3456/Mum/2016 dt 01.09.2016 as amended by order No. MA No. 402/Mum/2016 in the appelant's case for the year under consideration. Ground No.4: Erroneous levy of Interest: The Income Tax Officer 18(1)(1) Mumbai has erroneously calculated interest u/s. 234A, 2348, 234C, 234D& 244A and it is prayed that the same sh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h K. Chandak has admitted on providing accommodation entry and since the assessee has entered into certain transactions with M/s Giriraj Enterprises the AO reopened the assessment. The assessee filed detailed objections before the AO against the re-opening. The assessee also filed the order of the CIT(A) in the case of Mr. Harish K. Chandak where all sales transactions of Giriraj Enterprises has been accepted as genuine. However, the AO did not accept the submissions of the assessee and disposed of the objections. Before the AO, the assessee also submitted the confirmation from Giriraj Enterprises, details of purchases from Giriraj Enterprises and the corresponding sales. The AO after considering the submissions of the assessee made an addi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es as not genuine. 5. The ld. DR relied on the order of the lower authorities. 6. We heard the parties and perused the material on record. The assessee's case was first reopened for the reason that the assessee has entered into certain bogus transactions and the assessment under section 143(3) r.w.s. section 147 was completed wherein the AO made addition of Rs. 9,35,988/- under section 69C of the Act. The said addition was ultimately restricted to 3.1% by the coordinate bench of the Tribunal. The assessee's case was re-opened for the second time based on the information that Mr. Harish K. Chandak the proprietor of M/s Giriraj Enterprises has admitted to providing accommodation entry and that the assessee has entered into transacti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e reason that the party has admitted having entered into bogus transaction and that the assessee has not produced the parties. During the course of hearing the ld AR drew our attention to the statement of oath recorded from Mr. Harish Chandak, to submit that he has not mentioned having entered into any bogus transactions with the assessee (Page 78 to 84 of paper book). We notice that during cross examination by the assessee's partner Mr. Vinod Bhatia, Mr. Harish K Chandak has categorically denied having given hawala bills to the assessee (page 87 to 89 of paper book). From the perusal of the entire facts in assessee's case as explained herein above, it is clear that the AO has completed the reassessment without proper appreciation o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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