TMI Blog2013 (1) TMI 544X X X X Extracts X X X X X X X X Extracts X X X X ..... nded, thus in the backdrop of these facts, it is difficult to believe the plea taken that the said information was “neither available with the department nor did the assessee disclose the same at the time of assessment proceedings”. There is nothing to show that the assessing officer did not receive the said information as it is apparently because he was mindful of the said information that he issued notices under section 133(6) directly to the parties to confirm the factum of application of shares and the source of funds of such shares - in favour of assessee. - W.P.(C) 5536/2012 - - - Dated:- 16-1-2013 - MR BADAR DURREZ AHMED AND MR R.V. EASWAR, JJ. For the Appellant : Mr O.S. Bajpai, Sr. Adv. with Mr Shashwat Bajpai, Mr V. N. Jha and Mrs Manasvini Bajpai, Advocates. For the Respondent :Ms Suruchi Aggarwal, Sr. Standing Counsel. JUDGMENT BADAR DURREZ AHMED, J (ORAL) 1. This writ petition is directed against a notice dated 30.08.2011 issued under section 148 of the Income Tax Act, 1961 (hereinafter referred to as the the said Act‟) by the respondent No.3. It is also prayed by the petitioner that the order dated 03.08.2012, whereby the ob ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... has been using them for merely signing all the documents, bank cheques and also for transporting and exchanging cash and cheques in order to providing accommodation entries During the the search operation, as per his statement, Shri Tarun Goyal has accepted that he provides accommodation entries and his various companies are used for this purpose. The above information was neither available with the department nor did the assessee disclosed the same at the time of the assessment proceedings. A detailed list of the beneficiaries of accommodation entries has been prepared by the concerned ADIT (Inv.) for the Asstt. Years 2004-05 to 2009-10. As per the list, M/s Pardeshi Developers Infrastructure Pvt. Ltd. Presently being assessed with Ward 14(1), New Delhi has taken the following accommodation entries during the period relevant to assessment year 2007-08. Name of the Beneficiary Name of Accommodation entry provider companies Amount M/s Pardeshi Developers Infrastructure Pvt. Ltd. M/s Bhavani Portfolio Pvt. Ltd. 50,00,000/- M/s Deep Sea Drilling Pvt. Ltd. 25,00,000/- M/s Taurus Iron Steel Co. Pvt. Ltd. 25,00,000/- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... th the assessing officer at the time the assessment was done under section 143(3) of the said Act. The exact words used in the purported reasons are as under: - The above information was neither available with the department nor did the assessee disclosed the same at the time of the assessment proceedings At this juncture, it would be necessary to point out that in the course of assessment proceedings under section 143(3) of the said Act, a questionnaire had been issued by the assessing officer to the petitioner on 18.02.2009. In the said questionnaire, serial No.7 read as under: - 7. Please furnish the details of the share capital introduced/ share application money received/ unsecured loan received during the year with confirmation from the person from whom the amount has been received showing its income tax particulars i.e. PAN and their I.T. Particulars. 6. It is apparent that, without having received any specific information with regard to the alleged bogus companies of Tarun Goyal, as a general exercise, the assessing officer had issued the said questionnaire and had required petitioner/ assessee to furnish details of share capital introduced and share money recei ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... BOGUS‟ COMPANIES The network of companies run by Shri Tarun Goyal is only doing the business of providing accommodation entries to various beneficiaries and are not doing any real business, hence these companies are BOGUS‟. b. All the directors are either his employees or close relatives. Shri Tarun Goyal could never produce the directors nor furnish their residential address. c. The statement of the employees of Shri Tarun Goyal is on record, whereby they have clearly stated that they signed on the papers produced before them by Shri Tarun Goyal. They do not know about the basic details of the companies like shareholding patterns, nature of business of these companies etc. d. The statement of the auditors of Shri Tarun Goyal is on record. They have stated to have never met the directors of the companies and audited the accounts only on the directions of Shri Tarun Goyal. As per the statement of auditors, the employees of Sh. Tarun Goyal were directors of the companies run by them; also they could not ascertain the so called share capital subscribed by Sh. Tarun Goyal as documentary proof of the same was lacking. e. During the course of search, all the p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Narender Kumar) Addl. DIT (Inv.), Unit-IV, New Delhi Enclosed: 1. List of the beneficiaries of accommodation entries 2. Copies of Important Statements recorded on oath 8. As can be seen from the above letter, a list of beneficiaries of all the accommodation entries as also copies of the statements recorded on oath were also included. The list of beneficiaries were in respect of assessment years 2004-05, 2005-06, 2006-07, 2007-08 and 2008-09. In the present case we are concerned with assessment year 2007-08. In the list of beneficiaries mentioned for the assessment year 2007-08 we find that serial No.19 shows the petitioner as a beneficiary. The said serial No.19 is extracted below: - "Assessment Year 2007-08 S.No. Beneficiaries Name of entry provider Amount Total 19 Pardesi Dev Infrastructure Pvt. Ltd. Plot No.-01, 3rd Floor, Garg Trade Centre, Sector-11, Rohini, Delhi Bhavani Portfolio Pvt. Ltd. 5,000,000 Pardesi Dev Infrastructure Pvt. Ltd. Deep Sea Drilling Pvt. Ltd. 2,500,000 Pardesi Dev Infrastructure Pvt. Ltd. Taurus Iron Steel Co. Pvt. Ltd. 2,500,000 Pardesi De ..... X X X X Extracts X X X X X X X X Extracts X X X X
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