TaxTMI 
TaxTMI 
2018 (4) TMI 1353
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....perused the material on record. 3. Earlier, the appeals of the assessee were dismissed for default which have been restored by allowing the M.As of the assessee. 3.1. The facts of the case are that in A.Y. 2005-2006, assessee filed return of income at loss of Rs. 82,130/- on 14th October, 2005. It was processed under section 143(1) of the I.T. Act, 1961. In A.Y. 2006-2007, assessee filed return of income declaring loss of Rs. 895/- on 30.11.2006 which was also processed under section 143(1) of the I.T. Act, 1961. Subsequently, on the basis of information received from Addl. DIT (Investigation), New Delhi, that assessee is a beneficiary of accommodation entry of Rs. 5 lakhs each in both the assessment years. The said accommodation entries ....
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.... the assessment years under appeal and made the addition of Rs. 5 lakhs each in both the assessment years. 4. The assessee challenged the additions and assessment orders before the Ld. CIT(A) and both the appeals of the assessee have been dismissed. The Ld. CIT(A) passed the operative order in A.Y. 2006-2007 and followed the same in A.Y. 2005-2006. The Ld. CIT(A) in A.Y. 2006-2007 noted that assessee were directed to produce Managing Director of Tejasvi Investment (P) Ltd., from whom accommodation entry have been received and A.O. was directed to file remand report. The A.O. submitted the remand report which is reproduced in the appellate order in which the A.O. explained that notice under section 148 was issued to Principal Officer of the....
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....ies below, (iv) assessee has not received any accommodation entry of Rs. 5 lakhs each in both the assessment years and (v) assessee filed all the documents, therefore, additions are unjustified. 5.1. In A.Y. 2005-2006, the assessee in the written submissions reiterated the same facts and the points raised in the grounds of appeal. The assessee also filed certified copy of the reply filed before A.O. obtained from the Department in which assessee filed copy of the bank statement which is part of the record of the A.O. to show that there is no entry of Rs. 5 lakhs in the bank account of the assessee. the copy of the reply received under RTI Act has been filed in which Department has intimated to the assessee after verification of the record ....
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.... assessee remained non-cooperative before the authorities below. Therefore, the matter could be remanded to the authorities below for verification of the facts stated by the Director of Assessee- Company. 7. On consideration of the rival submissions and material on record, we are of the view that the matter requires reconsideration at the level of the A.O. The assessee has filed copy of the replies received from the A.O. which are replies filed before A.O. at the assessment stage. Since, it is certified by the A.O, therefore, it must be part of the record of the A.O. The reply of the assessee were supported by the bank statement. Director of the Assessee-Company submitted that assessee has not received any such accommodation entries in bot....