2026 (3) TMI 893

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....Income Tax Appellate Tribunal (for short "the Tribunal"), Surat in ITA No. 61/srt/2024 for Assessment Year (AY) 2012-13. 2. The appellant-Revenue has proposed the following questions of law: "(i) Whether on the facts and circumstances of the case and in law, the Hon'ble ITAT is justified in dismissing the appeal of the Revenue and upholding the decision of the Ld CIT(A) in deleting the addition made by the AO of Rs.5,04,80,000/- without appreciating the facts that the assessee had failed to prove the genuineness of the transaction made with "Keshav Impex" which was identified as a bogus accommodation entry provider, completely controlled by Shri Anil B. Chokhara? (ii) Whether, on the facts and in the circumstances of th....

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....ed for scrutiny and accordingly, assessment under section 143(3) of the Act was completed on 18.03.2015 determining income of the assessee at Rs. 16,77,080/-. Thereafter, in view of the information received by the Investigation Wing, Mumbai relating to the transaction made with M/s. Keshav Impex, notice under section 148 of the Act was issued upon assessee on 30.03.2019. The assessment was completed under section 143(3) read with section 147 of the Act on 18.11.2019 by determining the total income of the assessee at Rs. 5,21,57,080/-. Being aggrieved with the Assessment Order, the assessee preferred an appeal before the Commissioner of Income Tax (Appeals) (for short "CIT(A)") and vide order dated 21.11.2013 the same was allowed replying on....

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....tually incorrect data and it is not found that the purchases were made by the assessee from such entity. 7. The assessee had also contended before the AO that the reopening of the assessment was not justified as the same was made on the basis of the information received from the Investigation Wing however, no material was supplied to him and no opportunity of cross-examination was also allowed. The CIT(A) has allowed full reliefs accepting the contentions of the assessee. The same was challenged before the Tribunal and after considering the respective submissions, the Tribunal vide order dated 28.06.2024 has held thus: "9. We find that before the ld. CIT(A), the assessee reiterated his similar contention as raised before the Ass....