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2014 (1) TMI 336 - ITAT DELHIValidity of reassessment u/s 147 - Held that:- The Investigation Wing has prepared the list of beneficiaries who have taken accommodation entries from person/firm engaged in the racket of providing accommodation entries which includes the name of Bimla Devi - The present assessee is Maya Gupta and not Bimla Devi - In the chart, only the value of entry taken is mentioned but the nature of entry whether it is a bogus gift, loan or share capital money is not mentioned - No reference is made to any statement given by any accommodation entry provider or any documentary evidence found from their premises which indicated any accommodation entry being taken by the assessee – Following Signature Hotels P. Ltd. [2011 (7) TMI 361 - Delhi High Court] - The information on the basis of which the Assessing Officer had initiated proceedings under Section 147 was vague and uncertain - The learned CIT(A) rightly held that the reopening of assessment was not valid – Decided against Revenue.
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