TMI Blog2018 (4) TMI 1350X X X X Extracts X X X X X X X X Extracts X X X X ..... er along with the relevant details for verification and thereafter if no party was found the Assessing Officer with proper reasons make addition on this issue. - ITA No. 6496/DEL/2014 - - - Dated:- 23-4-2018 - SUCHITRA KAMBLE, JUDICIAL MEMBER AND SH. PRASHANT MAHARISHI, ACCOUNTANT MEMBER For The Appellant : Sh. K. Sampath, Adv Sh. V. Raja Kumar, Adv. For The Respondent : Sh. Kaushlendra Tiwari, SR. DR. ORDER PER SUCHITRA KAMBLE, JM This appeal is filed by the assessee against the order dated 27/08/2014 passed by CIT(A)-Muzzafarnagar for Assessment Year 2007-08. 2. The grounds of appeal are as under:- 1. That on the facts and in the circumstances of the case and in law, action of the authoritie ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... counsel of the assessee vide his reply dated 18.11.2013 submitted that the assessee company had already proved the identity, creditworthiness and genuineness of transaction on which basis the Commissioner of Income Tax Muzaffarnagar had allowed the issue of share capital in the case of the assessee Company. In his reply the counsel of the assessee has also mentioned the number of judgments. The Assessing Officer observed that perusal of the reply of the assessee reveals that all these judgments were mentioned by the assessee at the time of assessment proceedings u/s 143(3) and after considering all these judgments the then Assessing Officer added the amount of share application money to the income of the assessee. The ITAT has remit the mat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at given address . No reply has been received so far in response to the letter sent at Delhi address. The ITI of this office was also sent on the given address of Delhi. As per the report of ITI there is no such company exists at the given address. The residents of that locality we have heard both the parties and perused the material available on record not aware about the company. The confirmation letter u/s 133(6) of the Income Tax Act, 1961 was also sent to M/s Ishom Lab (P) Ltd. at the address of Agra. For which no reply has been received so far. Therefore, the identity of these companies is not proved. Therefore, you are required to rjd.se as to why the amount shown as received from above two companies should not be added to your ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the person, from whom the money has been received, is on the assessee. The assessee produced any document in support of identity of the above two parties. No confirmation from the parties was produced by the assessee. During the course of assessment proceeding u/s 143(3) to verify the identity of both the above parties the commission u/s 131(d) of the Income Tax Act, 1961 were also issued to the ADIT (inv.)-2, Lucknow and DDIT(Inv.), Agra. As per reports submitted by both the authorities the address of above parties were bogus. Therefore, the then Assessing Officer added the amount taken from these parties u/s 68 amounting to ₹ 70,00,000/- to the income of the assessee. After discussion, the assessment was completed at the income ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ny. The Ld. AR further submitted that regarding Ishom Photo Color Lab (P) Ltd. the Assessing Officer had made the assessment u/s 143(3) read with Section 254 dated 14.03.2014 after about 4 months of furnishing the current details of address of the another share applicant who had also changed address with the Registrar of the Companies, Kanpur and present address as per Company/LLP Master Data and Company Master Details dated 07.03.2014 on which balance sheet for the year ending 31.03.2012 has been filed by the Company. The Ld. AR further submitted that the entire subscriber has subscribed the Share Application money through account payee cheques in favour of the assessee company. The assessee company already allotted and issued share to the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 9. We have heard both the sides and perused the material available on record. It is pertinent to note that the two parties firstly, Maya Industries Ltd. has been amalgamated with Dishayen Leasing Pvt. Ltd. as per High Court order dated 23.9.2009, which is situated at 11/468- Telewara, Near Gita Bhawan, Shahadra, Delhi-110092 as per Company/ LLP Master Data and Company Master details. Regarding second party, Ishom Photo Color Lab (P) Ltd. the assessee submitted that as per company/ LLP Master Data and company master details the present address of the company is MIG-I, No. 17 BDA Corporation, Zamnpur Colony, Bhadoi. The CIT(A) in his order observed that the Assessing Officer has not investigated. Therefore, despite issuing notices u/s 133 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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