TaxTMI 
TaxTMI 
2023 (7) TMI 507
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.... the Opponent(s) No. 1 ORAL ORDER (PER : HONOURABLE MR. JUSTICE DEVAN M. DESAI) 1. Heard learned advocate Mr. Karan Sanghani with Ms. Kalpanak Raval for the appellant. 2. This appeal is filed u/s 260A of the Income Tax Act and the same is arising out of the order passed by the Income Tax Appellate Tribunal, Rajkot on 16.11.2022 in Tax Appeal No. 191 of 2017 for the assessment year 2012-13. ....
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....however, did not produce books of accounts, according to the department. Therefore, the assessment order was passed on 17.3.2015 under section 143(3) read with section 144 of the Act. The assessment order was passed on 17.3.2015 declaring total income at Rs. 23,01,11,530/-. 4.1 The assessee preferred appeal against assessment order before the Commissioner of Income Tax (Appeals), who partially al....
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....ition made on account of unsecured loan of Rs. 11,69,50,000/- under section 68 of the Act. 5.1 In para 14.1 of the order, the appellate Commissioner considered that the Assessing Officer had confirmed in his report dated 14.3.2017 about the group entries appearing in the balance-sheet as also in the audit report. The same was considered by the appellate Commissioner. The following finding was rec....
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....ess, genuineness and identities of lenders in the transactions. After detailed discussion, the Tribunal recorded its own finding thus, "We find that during the remand proceedings, the details such copy PAN, ledger account and confirmation and other details such as bank statement, audited books were made available before the AO. However, the AO without considering and pointing any deficiency in t....