Reopening of case due to involvement of assessee in bogus purchases/accommodation entries

Last updated: 19 April 2021

Court :
ITAT New Delhi

Brief :
This appeal filed by the assessee is directed against the order dated 15th September, 2015 of the CIT(A)-17, New Delhi, relating to assessment year 2006-07.

Citation :
ITA 2472/DEL/2016

IN THE INCOME TAX APPELLATE TRIBUNAL
DELHI BENCH : SMC-1 : NEW DELHI
BEFORE SHRI R.K. PANDA, ACCOUNTANT MEMBER

ITA No.2472/Del/2016
Assessment Year: 2006-07

Super Industries,
Prop. S. Jagjit Singh,
L/H Shri Joginder Singh,
N.7, Gali No.9,
Anand Parbat Industrial Area,
New Delhi.
PAN: AASPS8033M
(Appellant)

ITO,
Ward-33(3),
New Delhi.
(Respondent)

Assessee by : Shri Ramesh Goyal, CA
Revenue by : Ms Ranu Mukherjee, Sr. DR

Date of Hearing : 17.03.2021
Date of Pronouncement : 26.03.2021

ORDER

PER R.K. PANDA, AM:

This appeal filed by the assessee is directed against the order dated 15th September, 2015 of the CIT(A)-17, New Delhi, relating to assessment year 2006-07.

2. This appeal was earlier dismissed by the Tribunal for non-appearance.Subsequently, the Tribunal, vide MA No.118/Del/2017, order dated 16th February, 2018, recalled its earlier order. Hence, this is a recalled matter.

3. Facts of the case, in brief, are that the assessee is an individual and the proprietor of M/s Super Industries. It filed its return of income on 27th October, 2006 declaring the total income at Rs.1,89,640/-. Subsequently, the case of the assessee was reopened on the basis of information obtained that the assesseeindulged in bogus purchases/accommodation entries provided by Shri RakeshGupta, Shri Vishesh Gupta, Shri Navneet and Shri Vaibhav Jain. Accordingly, thecase of the assessee was reopened after recording reasons as per the provisions ofsection 147 of the Act. Notice u/s 148 dated 28th March, 2013 was issued and served upon the assessee. The AO, thereafter, issued statutory notices. Rejectingthe various explanations given by the assessee and observing that the assessee hasmade bogus purchase of Rs.13,03,692/- from Shree Bankey Bihari Trading Co. andShree Shyam Trading Co., which are owned by the persons named earlier, made addition of Rs.13,03,692/- u/s 69C of the IT Act.

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