2021 (8) TMI 1284

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....Respondent : Shri A. L. Thakkar, A.R. ORDER PER MAHAVIR PRASAD, J.M. 1. This appeal has been filed by the Revenue is directed against the order of the Ld. CIT(A) vide Appeal No. CIT(A)-8/61/2015-16 order dated 09/05/2017 arising out of assessment order dated 27/03/2015. The revenue has taken following grounds of appeal: 1) That the order of the Ld. CIT (A) is liable to be set asi....

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....company has obtained accommodation entry in the form of loans and advances for Rs. 2,43,00,000/- from Basant Marketing P. Ltd. on the basis of information received from DCIT, CC, XXVII, Kolkata. 3. Thereafter a letter u/s. 133(6) issued to the depositor, Basant Marketing P. Ltd. has submitted its confirmation for Rs. 2,43,00,000/- with copy of bank accounts reflecting the transactions therein. ....

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....ted relief to the assessee holding that activities of Basant Marketing P. Ltd. has been examined by the Department found to be genuine. 6. We have heard both the parties and gone through the impugned order. The assessee has furnished copy of audited accounts, balance sheet and P&L account along with annexure, copy of ledger of Basant Marketing P. Ltd. And during the course of assessment proceed....

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....eneficiary to the tune of Rs. 1,14,85,500/- from the group companies namely Basant Marketing P. Ltd. who was assessed to tax with them who provided accommodation entry and Department issued notice and Ld. A.O. made addition in the case of Harsh Dalmia. 8. Thereafter in appeal before the Ld. CIT(A) relief was granted to the assessee and thereafter Department appeal was dismissed by the ITAT hold....