2022 (12) TMI 1569

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.... For the Revenue : Sh. Abhishek Kumar, Sr. DR ORDER PER SHAMIM YAHYA, AM, ORDER This appeal by the Revenue is directed against the order of Ld. CIT (Appeals)-27, New Delhi, dated 28.09.2015 for the Assessment Year 2012-13. 2. The grounds of appeal read as under :- "(1) That the Commissioner of Income Tax (Appeals) has erred in law and on facts of the case in deleting Rs.8,3....

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....d not tenable in law on facts." 3. Brief facts of the case are that in the assessment order, the AO noted that in investigations, it has been found that the assessee company was one of the intermediary paper companies of Sh. Aseem Kumar Gupta, used by him for the purpose of providing accommodation entries. Thereafter, giving some reference about the activities of the assessee group, the AO exam....

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....ceived and deposited in the bank. But assessee failed to give an iota of evidence in the matter. Vide questionnaire dated 21.11.2014 the company was required to explain the income earning activity, business activity of the company but to no avail. In view of the above I hold that these deposits are unexplained money of the company and as such the same will be added towards income of the company. ....

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....ion in this para, which shows the lack of application of mind by the Ld. CIT(A). After noting the assessee's submission in place of AO's order, the Ld. CIT(A) observed that he has found that the assessee has filed complete details of credit and debit entries of its bank account and also the details of loans paid and interest earned there from. He further gave finding that he has found all ....