TaxTMI 
TaxTMI 
2026 (4) TMI 1544
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....he Ld. FAA AO who passed the assessment order & Date of order 8488/D/25 2013-14 CIT(A)-23, Delhi DIN & Order : ITBA/APL/S/250/2025-26/1082210950(1) Dated 31.10.2025 ACIT, Central Circle-01 Dated 31.03.2023 8489/D/25 2014-15 CIT(A)-23, Delhi DIN & Order : ITBA/APL/S/250/2025-26/1082325019(1) Dated 06.11.2025 ACIT, Central Circle-01 Dated 31.03.2023 8490/D/25 2015-16 CIT(A)-23, Delhi DIN & Order : ITBA/APL/S/250/2025-26/1082326749(1) Dated 06.11.2025 ACIT, Central Circle-01 Dated 31.03.2023 8491/Del/25 2016-17 CIT(A)-23, Delhi DIN & Order : ITBA/APL/S/250/2025-26/1082328843(1) Dated 06.11.2025 ACIT, Central Circle-01 Dated 31.03.2023 8492/Del/25 2017-18 CIT(A)-23, Delhi DIN & Order : ITBA/APL/S/250/2025-26/1082331155(1) Dated 06.11.2025 ACIT, Central Circle-01 Dated 31.03.2023 8493/Del/25 2018-19 CIT(A)-23, Delhi DIN & Order : ITBA/APL/S/250/2025-26/1082335193(1) Dated 06.11.2025 ACIT, Central Circle-01 Dated 31.03.2023 8494/Del/25 2019-20 CIT(A)-23, Delhi DIN & Order : ITBA/APL/S/250/2025-26/1082336674(1) Dated 06.11.2025 ACIT, Central Circle-01 Dated 31.03.2023 8495/Del/25 2020-21 CIT(A)-23....
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....ing u/s 153A needs to be abated/dropped and fresh proceedings u/s 153 C needs to be initiated to avoid multiple rounds of assessments. 2.3 Meanwhile, another satisfaction note and seized material was received from another Assessing Officer, who was having jurisdiction over the cases related to search in the case of Alankit Group conducted on 18.10.2019. From the perusal of new material received along with satisfaction note, available on record, it was found that the findings and material shared by the AO of Alankit Group also needs to be considered along with the material already available on record related to search on Sanjay Jain and others and Sh Rajiv Saxena. Already, it has been decided that proceedings pending u/s 153A were to be abated/dropped in view of the received satisfaction note and seized material from the AO of Sh. Rajiv Saxena to initiate fresh proceedings u/s 153C. In view of new satisfaction note and material received it was decided that same would be incorporated in the satisfaction note and same would be considered in same new 153C proceedings. 2.4 Hence effectively, the proceedings were initially initiated u/s 153A in this case but were later dropped to i....
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....gedly showing how the fertilizers products/fertilizers price were being artificially inflated. In the assessment order some whatsapp messages extracted from the phone of Sanjay Jain has been reproduced to how that how Sanjay Jain was negotiating with foreign company officials and also Indian counterparts. Based on these alleged conversations assessing officer concluded that there was some nexus of Sanjay Jain and AD Jain with their associates who were buyers of fertilizers and fertilizers products and participating in the tenders floated by Madras Fertilizers Ltd. At several places assessing officer had observed some nexus being formed by Sanjay Jain with Pankaj Jain and Sunil and other named persons. Assessing Officer has also relied some digital data from e-mail of one Archit Jain to conclude about evidences engaging manipulation of prices of fertilizers products. Then, ld. Assessing Officer has relied certain findings of Enforcement Directorate in investigation being conducted with regard to allegation of artificial fixation of prices of fertilizers and fertilizers products in India. 4.1 In regard to issue related to search on Rajiv Saxena ld. Assessing Officer has relied the....
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....ommission is being paid by Sanjay Jain @ 3.70% of Rs. 10.83 crores to Shri Lalit against transfer of ownership of Rasraj Marketing to various companies controlled by Shri Sanjay Jain. Another entry was found whereby allegedly commission was paid @ 8% of Rs. 8.15 crores to Alok Kumar Agarwal of which commission @ 3.75% is further paid to Shri Alok Kumar Agarwal for transfer of ownership of Atoll Vyaapar to various companies controlled by Shri Sanjay Jain. 5.1 Accommodation entry were also allegedly found being received under the garb of consultancy services by Alok Kumar Agarwal and his son Ankit Agarwal from Dubai based bank account of the entities of the Triton group involving transactions through Hawala channel and this company Triton Trading DMCC is allegedly owned and controlled by Sanjay Jain and Pankaj Jain. 5.2 Statement of one Sushil Kumar Pachisiya is reproduced in the assessment order and same has been relied to conclude that Alok Kumar Agarwal has facilitated the movement of unaccounted funds of Sanjay Jain and trading associates by raising bogus bills from their group entities to Triton BMCC. The money was received in the Alankit Group of companies a/c and later e....
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....s document is there and you said that there is no document. Ans. ED had my laptop. I was not even be investigated for the IFFCO matter by ED in 2019 and 2020. My entire questioning was related to Moser Bear and Augusta Westland but AD Singh has right to answer any question which they feel like or any information which they have and it is my obligation to answer the question to the best of my knowledge." 8.2 Then ld. CIT(A) has relied a Coordinate Bench decision in case of Sushen Mohan Gupta Vs. ACIT, ITA No. 2999 to 3005/Del/2024 dated 20.502.2025, who was also searched by the department and in whose case also reliance was placed by the department on the document found from/given by/seized from Mr. Rajiv Saxena and on whose statement, it appears proceedings u/s 153C of the Act in the case of that assessee was initiated. Ld. CIT(A) has relied the Coordinate Bench finding that Rajiv Saxena and his son brought a pen drive and document on 04.03.2019 and handed over the same to ED and based upon the facts it was concluded that the same was not incriminating evidence so far as Sushen Mohan Gupta is concerned as these electronic evidence were already with the department. The r....
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.... drawing conclusive inferences that assessee had received any cash in the form of kick back for procuring favour to Uralkali regarding import of fertilizers by Indian companies. 12. Connected to the allegations of receiving secret commission by the assessee, if the issue arising out assessee receiving accommodation entry through Alankit Group entities is examined, we find that ld. CIT(A) has duly appreciated the fact that adjudicating authority under the Prohibition of Benami Property Transaction Act, 1988 in its order dated 28.03.2025 has examined the issue and concluded that there is no evidence to support the allegations of income tax authorities under the said Act against the assessee to have received any amount from Triton through Alankit Group Companies. It was observed that none of the search by various agency including income tax department yielded any evidence of any corresponding consideration in any manner including cash paid in India or overseas by the assessee to Triton Trading DMCC to Alankit Group. 13. Ld. CIT(A) has appreciated the fact that the excel sheet title "JPS" is not a cogent evidence to connect the assessee, with whatever transaction were allegedly r....