TMI Blog2018 (10) TMI 235X X X X Extracts X X X X X X X X Extracts X X X X ..... e the re-opening/reassessment. Thus, the re-opening itself is bad in law and needs to be quashed. - Decided in favour of assessee. - ITA No. 2731/Del/2018 - - - Dated:- 27-9-2018 - SHRI N. K. SAINI, ACCOUNTANT MEMBER AND MS SUCHITRA KAMBLE, JUDICIAL MEMBER For The Appellant : Sh. R. S. Ahuja, CA For The Respondent : Sh. Surender Pal, Sr. DR ORDER PER SUCHITRA KAMBLE, JM This appeal is filed by the assessee against the order dated 29/03/2018 passed by CIT(A)-1, Gurgaon, for Assessment Year 2011-12. 2. The grounds of appeal are as under:- 1. That on the facts circumstances of the case the learned ITO CIT (A) erred in ( a) Making an addition of ₹ 5,48,000/- to the income of the As ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... M/s Krishma Diamond Pvt. Ltd. during the F.Y. 2010- 11. The Assessing Officer accordingly recorded reasons and issued notice under Section 148 after taking approval of the competent authority. There was no compliance from the assessee. The Assessing Officer, thereafter, issued notice under Section 142(1) along with questionnaire. Once again there was no compliance. The Assessing Officer issued a show cause notice proposing addition of ₹ 5,48,000/-. There was no compliance to the show cause notice also. The Assessing Officer accordingly, added amount of ₹ 5,48,000/- to the total income of the assessee. 4. Being aggrieved by the Assessment Order, the assessee filed appeal before the CIT(A). The CIT(A) dismissed the appeal of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessing Officer are as under: Annexure Shri Gunpreet Singh, C/o M/s Green Carrier and Contractors Pvt. Ltd., H. No.51, Saini Farm, Khanpur Mehrauli Badarpur Road, Delhi-110062. Assessment year 2011-12 PAN-BDEPS3018Q Return declaring an income of ₹ 6,02,450/- was filed by the assessee on 2809.2011 and the same was processed u/s 143(1) of I. T. Act, 1961 as such. Later on, it has come to notice that the assessee has taken accommodation entries in the form of bogus bills from M/s Karishma Diamond Pvt. Ltd. amounting to ₹ 5,48,000/-. From the perusal of return of income of the assessee for the assessment 2011-12, it is seen that the assessee has shown opening stock of ₹ 4,14,86,563/- whereas in the i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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