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2023 (8) TMI 212 - AT - Income TaxReopening of assessment u/s 147 - accommodation entry transactions - CIT(A) deleted addition - HELD THAT:- CIT(A) has duly examined the issue with regard to reopening of the case u/s 147 of the Act. Shri Roop Kishore Madan was not found to be entry operator from the sources of Shri R. K. Madan with regard to the amounts given to M/s. Gulab Buildtech on 03.02.2012 have been duly proved. The total amount given was Rs. 8.68 crore as against the amount alleged by the Revenue of Rs. 5.65 crores. The source of the entire amount have been duly examined by the ld CIT(A). Similarly, the loan transaction in M/s. G. B. P L. and BBPL with Sh. R. K. Madan which has been presumed to be an accommodation entry has been proved contra. Hence, the ld CIT(A) held that there was no reason to believe but it was only the suspicion which led to reopening of the case. We find no flaw in the order of the ld CIT(A), either on facts of the case or on judicial pronouncements applicable to the instant case in the background of the said facts. Hence, we decline to interfere with the well reasoned and logical order of the ld CIT(A). Decided against revenue.
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