2020 (2) TMI 1694

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....Income Tax Act, 1961 (hereinafter referred as to 'the Act') for Assessment Year 2014-15. 2. In this particular case the assessee has challenged the reassessment under section 143(3) r.w.s. 147 of the Act and further that the disallowance of claim under section 35(1)(ii) of the Act to the tune of Rs. 3,50,000/-. 3. Heard the parties, perused the relevant materials available on record. 4. The brief facts leading to the case is this that the assessee filed its return of income of Rs. 8,00,430/- on 29.11.2014 which was processed on 11.12.2015. Subsequently information was received on the office of the DDIT (Inv.), Ahmedabad that a survey action was carried out at Kolkata Directorate in the following institutions on the issue of facilit....

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....14-15 is not permissible in eye of law. It was further argued by the Ld. AR at the time of the hearing of the instant appeal that the issue is squarely covered by several judgments passed by the Hon'ble Tribunal in favour of the assessee. Copy of the said judgments have also been submitted before us. 6. We have also carefully considered the judgment passed by the Ld. Tribunal in ITA No. 2318/Ahd/2017 for A.Y. 2014-15, the relevant portion dealing with the issue is as follows:- "5. We have duly considered rival contentions and gone through the record carefully. In the case of S.G. Vat care P. Ltd. (Supra), the Tribunal has recorded the following finding: 2. In the first ground of appeal, the grievance of the assessee is ....

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..... The ld. DR, on the other hand, contended that in the investigation it came to know about bogus affairs conducted by the donee. Hence, these donations are rightly been treated as bogus, and addition is rightly made. 6. We have duly considered rival contentions and gone through the record carefully. The AO is harping upon an information supplied by the survey team of Calcutta. He has not specifically recorded statement of representatives of the donee. He has not brought on record a specific evidence wherein donee has deposed that donations received from the assessee was paid back in cash after deducting commission. On the basis of a general information collected from the donee, the donation made by the assessee cannot be doubted. N....