2023 (3) TMI 96

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.... for the assessment years 2010-11 and 2015- 16. 2. In ITA no. 4950/Del/2019 (AY 2010-11), the Assessee declared an income of Rs.12,70,940/- by filing its return of income on dated 30.09.2011, which was processed u/s. 143(1) of the Act on 30.11.2011. Subsequently, a search and seizure operation u/s. 132 of the Act was carried out in the group cases of Shri Sajan Kumar Jain, Shri Pradeep Kumar Jindal on 18.11.2015. While examining the seized documents of the searched person, the Assessing Officer came across with certain documents belonging to the Assessee, the person other than the searched person. The AO, therefore, after recording satisfaction to this effect that the action u/s. 153C of the act is attracted, handed over the said seized ....

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....of Shri Sajan Kumar. Moreover, the same has been admitted by Shri Pradeep Kumar Jindal in his statement recorded u/s. 132(4) of the Act. It is also pertinent to mention here that the Assessee company is controlled, managed and run by Shri Pradeep Kumar Jindal. In view of this, it is established that these are accommodation entries and have been routed through the front company, i.e., the Assessee company. It is pertinent to mention that this share capital investment has been made in the hands of the Assessee company which is a front company as explained above, therefore, the entire amount of Rs.8,25,00,000/- in the form of share premium and share capital is added in the hands of the Assessee company. 4. In ITA no. 4951/Del/2019 (AY 20....

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....ind perusal. The Assessee also claimed that Assessee's own cases, i.e., ITA No. 8427/8517/9834/Del/2019 for the assessment years 2012-13, 2013-14 and 2014-15 respectively, have also been decided by the Hon'ble coordinate Bench of the Tribunal vide order dated 14.12.2022 wherein the appeals of the department have been dismissed by taking into consideration the said facts. However, the Hon'ble Coordinate Bench put up a rider that in the event of any deletion in the hands of Shri Pradeep Kumar Jindal, wherein the substantial additions were made, the Revenue shall have liberty to take further steps against the Assessee herein in accordance with law. Further, the coordinate Bench also directed the registry to place the written submission made on....

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....8288/Del/2018 (A.Y 2012-13), ITA No. 8289/Del/2018 (A.Y 2013-14) & ITA No. 8290/Del/2019 (A.Y 2014-15) filed by Sh. Pradeep Kumar Jindal. 7. In the result, Appeal in ITA No. 8427/Del/2019, 8517/Del/2019 and 9834/Del/2019 are dismissed." 6.1 We have given thoughtful consideration to the peculiar facts and circumstances of the case. Considering the facts and circumstances in totality, as the Hon'ble Coordinate Bench in the aforesaid order, relating to the Assessee itself, has already taken into consideration the peculiar facts that the entries on the basis of which addition have been made, already subjected to tax in the case of Shri Pradeep Kumar Jindal, who by letter dated 18.01.2023 accepted the fact that he has already accepte....