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2017 (9) TMI 1027 - AT - Income TaxUnexplained credits received by the assessee company from Shri SK Gupta - Held that:- The facts of the relevant issue involved in the appeal are similar to the facts discussed in the appeal of the assessee for assessment year 2004 – 05. During the year the information found from the laptop of Mr. S. K. Gupta was that assessee has obtained and accommodation entry of ₹ 5 255000 from that particular person. The assessee could not produce the basic details before the Ld. assessing officer on the issue. The facts of the impugned addition remain the same as they were in the appeal of the revenue for assessment year 2004 2005. The CIT A also deleted the addition on the reasons given by him in the appeal of the assessee for assessment year 2004 – 05 before him. As we have already confirmed the addition allowing the appeal of the revenue for assessment year 2004 – 05, we do not have any reason to deviate from the reasons for decision stated therein. In view of this, we allow the appeal of the revenue for assessment year 2005 – 06 reversing the finding of the Ld. CIT appeal in deleting the addition of ₹ 52555000/-on account of unexplained income with respect to accommodation entries provided by Sh. S. K. Gupta, who is beneficiary is assessee.
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