TMI Blog2016 (3) TMI 456X X X X Extracts X X X X X X X X Extracts X X X X ..... 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. - ITA No. 813/JP/2013 - - - Dated:- 19-2-2016 - R P Tolani, JM And T R Meena, AM For the App ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... zure was conducted on 12/4/2005 in spite of the fact that the appellant company was not at all connected or related directly or indirectly to these persons and the deponent has no where taken name of the appellant. 4. That the ld CIT(A) is not correct in not considering and accepting the detailed submissions and various judicial decisions filed by the appellant company. 2. The assessee company is engaged in manufacturing of edible oil, oil cakes and mill stone. The assessee filed its return on 28/11/2003 showing income of ₹ 15,79,210/-. The return was processed U/s 143(1)(a) of the Income Tax Act, 1961 (in short the Act). Thereafter after recording the reasons U/s 147 of the Act, the Assessing Officer issued notice U/s 148 o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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. 4. All the other grounds of the appeal are against confirming the addition of ₹ 3 lacs U/s 68 of the Act. The ld Assessing Officer observed that the assessee had taken loan from M/s K.G. Petrochem (P) Ltd. on 4/1/2013. During the course of search, statement of Shri Kripa Shankar Sharma and relatives of Mr. B.C. Purohit were recorded wherein the confessed tha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ntrovert thefindings of the A.O. The submission filed by the AR for the appellant is not tenable because the A.O. clearly mentioned in the assessment order that the assessee has failed to produce the basic issue relating to the creditworthiness and genuineness of the company. Copy of bank account of K.K. Petro Chemical was not provide till date. K.K. Petro Chemical was not produced for verification till date. All these discrepancies and statements of entries provides were the basis for to held that the amount given by M/s K.K. Petro Chemical was not a loan but an accommodation entry. Considering the entire facts and circumstances of the case, the case laws cited by the AR for the appellant is not relevant. Hence, the addition made by the A. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ein the Hon'ble Supreme Court has held that not allowing the assessee to cross examine the witness by assessing authority though the statement of those witnesses were made the basis of the impugned order, is serious flaw which makes the order nullify inasmuch as it amounted to violation of principles of natural justice because of which the assessee was adversely affected. Therefore, impugned order passed by the Tribunal is set aside. Accordingly, the AR prayed to set aside the order of the ld CIT(A). 7. At the outset, the Ld. DR vehemently supported the order of the lower authorities and argued that the Hon'ble Bench in the case of DCIT Vs. Soni Hospitals Pvt. Ltd. in ITA No. 588/JP/2011 order dated 11/8/2015 for A.Y. 2005-06 has ..... X X X X Extracts X X X X X X X X Extracts X X X X
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