9911796707
TMI Blog2019 (4) TMI 1764X X X X Extracts X X X X X X X X Extracts X X X X ..... This appeal filed by the Revenue is directed against the order dated 29th January, 2016 of the CIT(A)-23, New Delhi, relating to assessment year 2012-13. 2. This appeal was fixed for a number of times. However, due to non-appearance on the part of the assessee, the case was getting adjourned from time to time. Since, on the last occasion also nobody appeared, therefore, the case was adjourned ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Act may be treated as return filed in response to notice u/s 148. The Assessing Officer, thereafter, issued statutory notices u/s 143(2) and 142(1). During the course of assessment proceedings, he observed that the assessee has received "non-current liability" amounting to Rs. 6,35,00,000/- from M/s Manan Merchandise Pvt. Ltd. during the year. He asked the assessee to furnish the copy of return, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tices were returned unserved with the remarks 'not known/insufficient address.' The Assessing Officer, thereafter, analysed the sequence of events and noted that all these five companies are Kolkata based paper companies and they do not have the source to give such huge amount to Manan Mechandise Pvt. Ltd., who, in turn, has transferred the money to the assessee company. Rejecting the various expl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ." 5. We have heard the ld. DR and perused the material available on record. We find the assessee, in the instant case, has received an amount of Rs. 6.35 crores from M/s Manan Merchandise Pvt. Ltd., a group company, which , in turn, has received the money from Kolkata based paper companies. Neither M/s Manan Merchandise nor the Kolkata based companies from whom M/s Manan Merchandise Pvt. Ltd. h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... were clearly sham and make believe with excellent paper work to camouflage their bogus nature. 8. In view of the above decisions which were rendered subsequent to the date of hearing of the appeal, we deem it proper to restore this issue to the file of the CIT(A) with a direction to adjudicate the issue afresh in the light of the above decisions. Needless to say, the ld.CIT(A) shall give due op ..... X X X X Extracts X X X X X X X X Extracts X X X X
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