TMI Blog2023 (6) TMI 720X X X X Extracts X X X X X X X X Extracts X X X X ..... HRI SAKTIJIT DEY, JUDICIAL MEMBER Appellant by Shri M.R. Sahu, CA Respondent by Shri Om Parkash, Sr. DR ORDER This is an appeal by the assessee against order dated 23.08.2018 of learned Commissioner of Income-Tax (Appeals)-7, New Delhi pertaining to assessment year 2010-11. 2. Before I proceed to deal with the issue arising in the appeal, it is necessary to observe, this appeal was disposed of earlier by the Tribunal vide order dated 22.18.2019. However, while disposing of the appeal, the additional ground raised by the assessee, inadvertently, remained undecided. Therefore, the assessee filed a miscellaneous application under Section 254(2) of the Income-Tax Act, 1961, being MA No.887/Del/2019, seeking rectificatio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Assessing Officer received information from the investigation wing indicating that the assessee has availed accommodation entry by way of bogus purchases worth Rs.30,00,000 from M/s. Global Trading Corporation. Based on such information, the Assessing Officer reopened the assessment under Section 147 of the Act. 6. In course of assessment proceedings, the Assessing Officer called upon the assessee to prove the genuineness of the purchases of Rs.30,00,000 from M/s. Global Trading Corporation. As observed by the Assessing Officer, in course of assessment proceedings, though, inquiry was carried on to ascertain the genuineness of the purchases by issuing summons under Section 131 of the Act to the concerned entity, however, the summons r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Assessing Officer and learned Commissioner (Appeals). 9. I have considered rival submissions and perused the material available on record. 10. Undisputedly, in the year under consideration, the assessee had shown purchases worth Rs.30,00,000 from M/s. Global Trading Corporation. From the observations of the Assessing Officer in the assessment order, it is evident that notice issued under Section 133(6) of the Act seeking certain information from the concerned seller did not evoke any response. Therefore, the Assessing Officer assumed that the concerned party has provided accommodation entries without any real transaction. However, it is a fact on record that assessee has not only maintained books of account but its accounts are und ..... X X X X Extracts X X X X X X X X Extracts X X X X
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