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2018 (1) TMI 1289 - AT - Income TaxNon recognition of assessee as an “assessee” under the Income Tax Act - bogus entity or not - main grievance of the assessee is that the assessee is a NBFC - doctrine of consistency - Held that:- From a perusal of the above chart it is evident that the AO has accepted the return of income filed by the assessee A.Y.2011-12 to A.Y.2016-17; and that assessee even received refund of ₹ 10,22,110/- for A.Y.2014-15 and ₹ 75,92,120/- for A.Y.2016-17.We find force in the said arguments of the ld. AR, when the fact remains same, unless the facts and law applicable in this relevant A.Y. is different, the AO’s action for earlier years and subsequent years must be the same in line with the doctrine of consistency. Since in the earlier assessment years and subsequent assessment year the assessee’s return of income has been accepted and even “refunds” have been allowed, treating the assessee an NBFC company as bogus need to be supported by material/evidence which the AO has not spelt out. The ld. CIT(A) has categorically held that there is no material on the basis of which it can be concluded that the assessee is fake and bogus. In the light of such a finding of ld. CIT(A), and the subsequent action of the AO accepting the return of income of the assessee up to A.Y.2016-17 and in the light of Rule of consistency we therefore are inclined to set aside the order of ld. CIT(A) and remand the matter back to the file of the AO for denovo adjudication. - Decided in favour of revenue for statistical purposes
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