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2023 (2) TMI 571 - AT - Income TaxReopning of assessment u/s 147 - unexplained cash credit u/s 68 - Bogus LTCG -CIT(A) upheld the initiation of reassessment proceedings stating that AO has followed the due procedure for reopening the assessment AND Appellant has taken bogus long term capital gain accommodation entry in order to plough back his unaccounted income in his regular books - HELD THAT:- CIT(A) after considering the submissions of the assessee and findings of the AO has dismissed the appeal filed by the assessee both on jurisdiction as well as on merits of the case. In the absence of any contradictory material being available on record, we are of the considered view that the impugned order passed by the learned CIT(A) requires no interference and, therefore, is upheld. Accordingly, grounds raised by the assessee in this appeal are dismissed.
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