TaxTMI 
TaxTMI 
2022 (12) TMI 1569
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....mar, 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.8,39,78,849/- which was added to the income of the asse....
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....he 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 examined the issue of bank deposits of the assessee and came to the conclusion ....
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....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. Satisfaction is hereby recorded that assessee has concealed the particulars of in....
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.... 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 the details were available and remarked that the AO has not appreciated the facts and submissions. Hence, the Ld. CIT(A) has directed the AO to ....