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2019 (9) TMI 185 - AT - Income TaxAddition u/s 68 - bogus share application money and accommodation entries - Investigation Wing of Mumbai that a search u/s. 132 was conducted in the cases of Praveen Kumar Jain Group were providing accommodation entries - assessee’s contention that the assessee has stated that neither statement of Shri P.K. Jain was supplied nor any chance to cross examination was granted by the A.O - HELD THAT:- In the case of Shri Praveen Kumar Jain where Shri P.K. Jain has admitted that he was indulged in providing entries to various companies and assessee has received accommodation entry in the form of share application money/share premium from various paper companies controlled and managed by Shri P.K. Jain. The assessee has specifically requested for the statement of Shri P.K. Jain to the A.O. but ld. A.O. did not supply the same. Since statement of Shri P.K. Jain was not supplied to the assessee on the basis of addition was made and in the absence of said statement assessee could not cross examine to Shri P.K. Jain and same is amount to miscarriage of justice despite of the fact that assessee made a formal request to the lower authorities. In our considered opinion and after considering the aforesaid judgment, no addition can be made on the basis of which violate principle of natural justice.
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