TMI Blog2018 (9) TMI 1872X X X X Extracts X X X X X X X X Extracts X X X X ..... ng authority. The Hon ble Calcutta High Court in CIT Vs. Dataware (P) Ltd. [2011 (9) TMI 175 - CALCUTTA HIGH COURT] has held that in case if the AO has doubt regarding the creditworthiness of the loan creditor, then the AO in turn had to seek report from the AO of the loan creditor and thereafter only draw adverse inference against the loan creditor. AO has not made any exercise of this nature to discredit the loan creditor. The assessee has discharged the onus by placing all the documents before the AO/Ld. CIT(A); and the Ld. CIT(A) has taken note of all these facts to delete the addition which is supported by relevant material, so the impugned order warrants no interference and, therefore, we dismiss the appeal of the revenue. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... me. Thereafter, assessee received an intimation of assessment u/s. 143(1) of the Act accepting the declared income. Later on, AO issued notice u/s. 147 read with sec. 148 of the Act and the assessment was reopened. From the reasons recorded it is discerned that assessment has been reopened on the basis of the information received from the DCIT, CC-XXVIII, Kolkata that the assessee company has taken accommodation entries in the form of loans and advances from M/s. Basant Marketing Pvt. Ltd. (M/s. BMPL) to the extent of ₹ 5,76,16,000/-. According to AO, since the assessee did not provide material to establish the identity, creditworthiness and genuineness of the transaction, the AO was pleased to add the said unsecured loan to the total ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... drew our attention to the paper book filed before us and drew our attention to the fact that item nos. 2 to 18 i.e. from page nos. 17 to 135 as well as item nos. 21 and 22 i.e. from page nos. 142 to 157 were filed before the AO during the reassessment proceedings and all other documents were filed before the Ld. CIT(A) and the first item page 1 to 16 is the written submission before Ld. CIT(A). However, the AO brushed aside all the evidence/material filed before him and saddled the addition against the assessee. 6. The Ld. AR further drew our attention to page nos. 95 to 97 of the paper book wherein the copy of the assessment order u/s. 143(3) of the Act dated 15.02.2018 framed against M/s. BMPL (lender who provided the unsecured ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he letter dated 23.02.2016 vide no. ITO,Wd-8(1),Kolkata/Basant Marketing 15-16 written by ITO, Wd-8(1), Kolkata to the Dy. CIT-3(3)(2), Mumbai which clarifies this fact and we note that the letter is placed at pages 139 to 141 of the paper book. We note from the perusal of page 47 of the paper book which is the letter written by the assessee wherein it replied to the AO vide letter dated 19.08.2013 which included confirmation of account with M/s. BMPL and copies of bank ledger with bank statement of assessee. From a perusal of pages 49 to 65 of the paper book it reveals the documents viz., copy of loan confirmation from M/s. BMPL along with copy of bank ledger and copies of bank statement of assessee showing loan received through account pa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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