2023 (4) TMI 285

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....s an individual and stated to be proprietor of Jai Balaji Group. AO has noted that information was received from DDIT(Inv.) Unit, Mumbai that the firms/concerns operated by Anil Kumar Jain and Mr. Praveen Kumar Jain and their associates were providing accommodation entries to various beneficiaries. On analysis of the bank statement of Kritvi Enterprises Pvt. Ltd. which was operated by Anil Kumar Jain and Mr. Praveen Kumar Jain, it was noticed that assessee was in receipt of bogus entries of Rs.15,00,000/- on different dates during the Financial Year 2010-11. AO noted that a perusal of data of AST Systems reveals that though the assessee had filed return of income for A.Y. 2011-12 but the bogus purchases/accommodation entries of Rs.15,00,000....

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....of income or for furnishing inaccurate particulars of income, making the initiation as well as whole proceedings invalid and unsustainable in law. 4. That without prejudice, the penalty of Rs. 3,13,120/- ws.271(1)(c) is unsustainable even on merits." 4. The case file reveals that there is no appearance though the case was listed for hearing in the past. On the present date of hearing also there was no appearance from the side of assessee despite the service of notice by RPAD. The case file further reveals that notices issued for hearing through RPAD were returned undelivered with the remark 'no such person'. In such a situation, we proceed to dispose of the appeals ex parte qua the assessee and after hearing the Learned DR. 5....