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Income Tax Appellate Tribunal, DELHI BENCH: ‘SMC-I’ NEW DELHI
Before: SMT DIVA SINGH
Date of Hearing 10.09.2015 Date of Pronouncement 23.09.2015 ORDER By the present appeal the assessee has assailed the correctness of the order dated 28.08.2014 of CIT(A)-XVIII, New Delhi pertaining to 2005-06 assessment year on various grounds.
Herein also, as In ITA No.-5910/Del/2014 identical issues have been raised vide Ground no.-7 & 8 which are found to be identical to Ground no.-5 & 6 in ITA no.-5910/Del/2014. In the present proceedings also the issues agitated vide Ground No.-4 before the CIT(A) are stated to be not addressed in the impugned order. Herein also an adjournment petition was moved on behalf of the assessee. Considering the fact that facts and circumstances on the issue raised in the present appeal and the submission of the Ld. Sr. DR who also took the stand that the facts remained identical to the issues addressed in the impugned order herein also is set aside restoring the issues back to the CIT(A) de novo. The distinguished fact being that herein the assessee did not file its return. After issuance of notice u/s 148 the assessment was concluded at an income of Rs.11,01,000/- as a result of the following I.T.A .No.-5909/Del/2014 information in regard to accommodation entries received by the assessee as per the Report of the Investigation Wing:- AMOUNT DATE NAME OF ENTRY NAME OF BRANCH OF PROVIDER BANK BANK 300000 04.03.2005 Chotti Leasing & Corpn. Bank CP Finance P.Ltd. 400000 23.02.2005 Moderate Credit ABN Amro CP Corp. Ltd. bank 300000 04.03.2005 Moderate Credit ABN Amro CP Corp. Ltd. Bank