9911796707
TMI Blog2021 (12) TMI 1080X X X X Extracts X X X X X X X X Extracts X X X X ..... that assessee was indulged in bogus purchases/accommodation entries provided by Shri Rakesh Gupta, Shri Vishesh Gupta, Shri Navneet Jain and Shri Vaibhav Jain. Therefore, the A.O. after recording the reasons reopened the assessment under section 147 of the I.T. Act, 1961. Subsequently, the A.O. issued notice under section 148. The assessee in response to the notice under section 148 of the I.T. Act, 1961, filed letter dated 15.05.2014 enclosing there with copy of bank statement and purchase bills. The A.O. thereafter asked the assessee to file details and also produce books of account. The assessee subsequently filed all the details as asked for by the A.O. In the meantime, the A.O. obtained certain details and statements of Shri Rakesh Gup ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e same to the total income of the assessee. 2.1. Before the Ld. CIT(A), the assessee apart from challenging the addition on merit, challenged the validity of the re-assessment proceedings. However, the Ld. CIT(A) was not satisfied with the arguments advanced by the assessee. So far as the validity of re-assessment proceedings are concerned, the Ld. CIT(A) upheld the same by following the decision of the Coordinate Bench of the Tribunal in the case of Shri Virendra Kumar Gupta, Proprietor of Sanjay Metal Udyog vs., ACIT in ITA.No.2721/Del./2016 order dated 13.12.2017 wherein the case was reopened on the basis of information received from the Investigation Wing that the assessee has received accommodation entries by booking bogus purchases t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... yes of law, as the reasons recorded for the issue of notice under section 148 are bad in the eyes of law and are contrary to the facts. (ii) On the facts and circumstances of the case, learned CIT(A) has erred, both on facts and in law in rejecting the contention of the assessee that the reassessment order passed by the AO is bad and liable to be quashed as the same has been reopened on the basis of the reasons which are vague and have been recorded without application of mind on the part of the AO. 4. On the facts and circumstances of the case, the learned CIT(A) has erred both on facts and in law in confirming the addition of an amount of Rs. 1,36,093/- on account of purchases made by the assessee treating the same as bogus invoking s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... th on facts and in law in rejecting the contention of the assessee that the addition so made on the basis of material collected at the back of the assessee, is bad in law and liable to be deleted. 9. On the facts and circumstances of the case, the learned CIT(A) has erred, both on facts and in law in rejecting the contention of the assessee that the addition made by the AO is untenable in the eyes of law, having been made without providing opportunity to cross examine the person on the basis of whose statement the allegations have been made against the assessee and without following the principles of natural justice. 10. The appellant craves the leave to add, amend or alter any of the grounds of appeal." 4. So far as the grounds challe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd the grounds raised by the assessee should be dismissed. 7. I have considered the rival arguments made by both the sides, perused the orders of the A.O. and the Ld. CIT(A) and the paper book filed on behalf of the assessee. I have also considered the various decisions cited before me. I find the A.O. in the instant case reopened the assessment of the assessee on the basis of the information obtained by him that assessee was indulged in accepting bogus purchases/accommodation entries. Since the assessee during the instant year has obtained bogus bills / accommodation entries provided by Vishu Trading Co. Rs. 3,25,586/- and Shree Shyam Trading Co. Rs. 2,18,806/-, the A.O. made addition of the same totalling to Rs. 5,44,392/- to the total i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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