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2019 (9) TMI 343 - AT - Income TaxReopening of the assessment u/s 148 - addition u/s 68 and u/s 69C - HELD THAT:- Assessee has failed to prove the creditworthiness of the Investor and genuineness of the transaction in the matter. The Ld. D.R. also referred to bank statements of the Investor Company, copy of which is filed in the paper book to show that before giving accommodation entry to the assessee, there was negligible balance in the account of the Investor Company. These facts coupled with the statement of the Director of the Investor Company clearly show that M/s. Hillridge Investment Ltd., has given accommodation entry of ₹ 40 lakhs to the assessee. The decisions relied upon by the Ld. D.R, thus, clearly supports the finding of fact recorded by the authorities below. Learned Counsel for the Assessee was not able to point-out any error in the Order of the authorities below for making the addition - Decided against assessee
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