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Section 148A18 Section 1486 Section 1474 Section 143(3)2 Section 1322 Section 142(1)2 Bogus/Accommodation Entry2 Reassessment2 Reopening of Assessment2 Addition to Income2

M/S. DIACH CHEMICALS & PIGMENTS PVT. LTD.,HOWRAH vs. D.C.I.T., CENTRAL CIRCLE - 4(2), KOLKATA, KOLKATA

In the result, both the appeals of the assessee are allowed

ITA 1642/KOL/2024[2018-2019]Status: DisposedITAT Kolkata20 Dec 2024AY 2018-2019

Bench: Shri Sanjay Garg, Jm & Shri Rajesh Kumar, Am

For Appellant: Shri S.M. Surana &For Respondent: Shri Prakash Nath Barnwal, DR

Section 132Section 142(1)Section 143(3)Section 147Section 148Section 148A

Section 148A of the Act dated 17.03.2022, wherein at page no. 4 of the notice the ld. AO has stated that M/s Saviri Ispat India Pvt. Ltd. has taken accommodation entry and brought back their unaccounted income into their regular books of accounts in the guise of bogus share/ share premium, unsecured loans etc. amounting