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2016 (3) TMI 456 - ITAT JAIPURReopening of assessment - Held that:- The case has been reopened U/s 148 on the basis of search conducted in the case of M/s B.C. Purohit and company group on 12/4/2005. M/s Bansal Oil Mills Ltd. (assessee) also found beneficiary and had received accommodation entry of ₹ 3 lacs from M/s K.G. Petrochem (P) Ltd. Therefore, the Assessing Officer had reason to believe to reopen the case U/s 147 of the Act. Accordingly the action of the Assessing Officer on reopening is confirmed. Addition u/s 68 - non providing of cross examination - Held that:- CIT(A) had not provided cross examination of the party whose statement had been used against the assessee as an evidence, which was asked to be cross examined by the assessee vide letter dated 30/11/2010. By respectfully following the order of the Hon'ble Supreme Court in the case of Andaman Timber Vs. Commissioner of Central Excise, Kolkata-II [2015 (10) TMI 442 - SUPREME COURT], this issue is set aside to the Assessing Officer and the ld Assessing Officer is directed to provide copy of statement and required copy of seized material for explaining the cash creditor by the assessee. Accordingly, this issue is set aside to the Assessing Officer for denovo. - Decided partly in favour of assessee for statistical purposes only.
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