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TMI Blog2018 (2) TMI 2036X X X X Extracts X X X X X X X X Extracts X X X X ..... s filed the return of income which was accepted without scrutiny under section 143(1) of the Act. To reopen such assessment, the Assessing Officer issued impugned notice. In order to do so, he had recorded following reasons: C/SCA/21107/2017 ORDER "The assessee filed its return of income for the A.Y. 2011-12 on 30.12.2011 declaring total income at Rs. Nil. 2. In this case, information has been received from the O/o the DDIT (Inv.) Unit-3(1), Kolkata, that a inquiry was conducted in the case of Shir Kripa Sankar Dubey by the Investigation Wing, Kolkata. These details were received from the DDIT (Inv) Unit 3(1), Kolkata vide his letter no. DDIT(Inv)Kol/X-181/Report/2016-17 dated 24.03.2017. During the course of inquiry, it was see ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e real beneficiaries including the assessee company i.e. M/s. PARTH KNITEX PRIVATE LIMITED, Brightsun Train Pvt. Ltd company has made the transaction of Rs. 5,00,000/- by its acount of Standard C. Bank A/. No. C/SCA/21107/2017 ORDER 32205469861 on 09.03.2011 with M/s. PARTH KNITEX PRIVATE LIMITED, which is unaccounted income of the assessee company shown in its regular books of accounts. On perusal, from the information of and material on records, it is seen that the credit entry of transaction made with Brightsun Travin Pvt. Ltd is bogus credits which represent undisclosed income of the assessee company u/s. 68 of the IT Act. 3. As discussed in preceding para this amount represents income of the assessee for A.Y. 2011-12, compa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uch a contention. 5. At all stages the stand of the petitioner is that there was no transaction of Rs. 5 lacs from the said Brightsun Travin Private Limited in favour of the petitioner during the period under consideration. In fact, counsel for the petitioner pointed out that such transfer took place during the period relevant to the assessment year 2011-12. There is no answer from the Revenue on this contention of the petitioner. In the objections raised by the petitioner as well as in the present petition ,such a ground has been specifically taken. Revenue is unable to dislodge this factual contention. In other words, the Revenue is unable even prima facie to point out that there was actually a transaction of transfer of fund of Rs. 5 la ..... X X X X Extracts X X X X X X X X Extracts X X X X
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