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2023 (4) TMI 466 - ITAT DELHIAddition u/s. 68 - accommodation entry taken from investor company - Addition based on Investigation Wing Report - not allowing opportunity of cross-examination to assessee - HELD THAT:- Assessee filed copies of bank statement of the assessee along with bank statement of Investor Company, confirmation issued it, ITR acknowledgement and assessment order wherein no addition has been made by the AO in the hands of investor company. DR has also not controverted that the assessee filed objection letter wherein the assessee requested to provide documents and statements relied on by the Investigation Wing and the AO. Further, from the copies of the letter noted that the assessee again requested to provide copies of the documents and statements and to provide opportunity of cross-examination, but, unable to see any action by the AO on the said consecutive three requests of the assessee. Respectfully note that their Lordships, in the case of Pradeep Kumar Gupta [2006 (11) TMI 184 - DELHI HIGH COURT] held that the assessment proceedings on the basis of deposition of third party without allowing opportunity of cross-examination of the said party to the assessee despite specific demand was not valid. Thus addition made by the AO and upheld by the ld.CIT(A) is not valid and sustainable - Decided in favour of assessee.
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