https://www.taxtmi.com/caselaws?id=291383 The Tribunal dismissed the Revenue's appeal and upheld the decision of the CIT(A) to delete the addition made by the AO concerning an accommodation entry received by the assessee based on a bogus sale of jewellery. The Tribunal allowed the assessee's application under Rule 27 of the ITAT Rules, emphasizing the invalidity of the assessment due to a significant delay in issuing notices under section 158BD. The Tribunal considered relevant case laws and concluded that the delay rendered the assessment itself as bad in law, citing judgments of the Delhi High Court and the Supreme Court. en-us Wed, 08 Jul 2015 00:00:00 +0530 Sun, 08 Nov 2020 18:39:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291383 The Tribunal dismissed the Revenue's appeal and upheld the decision of the CIT(A) to delete the addition made by the AO concerning an accommodation entry received by the assessee based on a bogus sale of jewellery. The Tribunal allowed the assessee's application under Rule 27 of the ITAT Rules, emphasizing the invalidity of the assessment due to a significant delay in issuing notices under section 158BD. The Tribunal considered relevant case laws and concluded that the delay rendered the assessment itself as bad in law, citing judgments of the Delhi High Court and the Supreme Court. Case-Laws Income Tax Wed, 08 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291383