Income Tax Appellate Tribunal - Delhi
Shri Devinder Kumar Goyal, New Delhi vs Dcit, New Delhi on 22 December, 2022
IN THE INCOME TAX APPELLATE TRIBUNAL DELHI
(DELHI BENCH 'A' : NEW DELHI)
BEFORE SH. SHAMIM YAHYA, ACCOUNTANT MEMBER
AND
SH. ANUBHAV SHARMA, JUDICIAL MEMBER
ITA No.30/Del/2014, A.Y. A.Y. 01/04/1996 to 19/09/2002
Shri Devinder Kumar Goyal Vs. Dy. Commissioner of Income
Y. 14, 2nd Floor Naraina, Tax,
Loha Mandi Circle 27(1),
New Delhi New Delhi
PAN : AARPG4140Q
ITA No.31/Del/2014, A.Y. A.Y. 01/04/1996 to 19/09/2002
Shri Arvind Kumar Goel Vs. Dy. Commissioner of Income
Y. 14, 2nd Floor , Naraina, Tax,
Loha Mandi Circle 27(1),
New Delhi New Delhi
PAN : ADWPG2980N
(APPELLANT) (RESPONDENT)
Assessee by None
Revenue by Sh. P. Praveen Sidharth,, CIT(DR)
Date of hearing: 20.12.2022
Date of Pronouncement: .12.2022
ORDER
PER ANUBHAV SHARMA, JM:
These two appeals have been filed by the Assessee/appellants, Shri Devinder Kumar Goyal & Shri Arvind Kumar Goel against order dated 26.02.2014 & 25.02.2014 passed in appeal no. 425/2013-14 & 431/13-14 respectively for assessment year 01.04.1996 to 19.09.2002 passed by the ITA No. 30 & 31./Del/2014 2 Commissioner of Income Tax (Appeals)-XXVIII, New Delhi (hereinafter referred to as the First Appellate Authority or in short 'Ld. F.A.A.') in regard to the appeal before it arising out of assessment order dated 29.12.2006 u/s 158BC/158BD of the Income Tax Act, 1961 (hereinafter referred to as 'the Act') passed by DCIT, Circle 27(1), New Delhi (hereinafter referred as Ld.Assessing officer or in short Ld. AO).
2. Heard and perused the record.
3. At the time of hearing, as the case was called non-appeared for the assessee. Record shows earlier on 1.11.2022 also none had appeared and notices were directed to be issued by RPAD and also through the department. Report of affixation of summons is filed by the revenue on the basis that at the given address, no person with the name of assessee was found. Accordingly arguments of Ld. DR heard who submitted that there is no error in the findings of Ld. Tax Authorities below.
4. A search was conducted u/s 132 on 19.09.2005 at the residential and business premises of one Kulwant Singh and other group of cases and assessment was prepared u/s 158 BC. It was observed in the assessment proceedings of Kulwant Singh that he had opened bank accounts in the name of different persons/ entities to facilitate accommodation entries of purchases from outside Delhi. It was found that the assessee/appellants weres engaged in business of draft discounting and charging commission accommodation entries. So based on the statements recorded u/s 131 of the Act, of Shri Devender Kumar Goyal it was found that two accounts each were being maintained by Shri Devender Kumar Goyal and Arvind Kumar Goel, the two appellants in name of different firms. Reassessment u/s 158 BC r.w.s. 158 BD was initiated. As assessee could not produce any details and books of accounts and the modus operandi of their activities were found to disclose that they were maintaining ITA No. 30 & 31./Del/2014 3 sales turn over to issue accommodation entries and had paid taxes also, additions were made. The ld. CIT(A) had sustained the additions, accordingly the assessee is in appeal.
5. The Bench is of considered opinion that Ld. Tax Authorities have carefully examined the facts of the case and the modus operandi of the assessee/ appellants. The statement of one of the appellants, Shri Devender Kumar Goyal was used for corroborating the information collected during search and seizure proceedings. The bank account details established that in association with Kulwant Singh, Appellants were engaged in draft discounting and commission agent business. The findings of the ld. Tax Authorities below require no intervention. The grounds raised have no substances. Both the appeals are dismissed.
Order pronounced in the open court on 22nd December, 2022.
Sd/- Sd/-
(SHAMIM YAHYA) (ANUBHAV SHARMA)
ACCOUNTANT MEMBER JUDICIAL MEMBER
Date:- 22 .12.2022
*Binita, SR.P.S*
Copy forwarded to:
1. Appellant
2. Respondent
3. CIT
4. CIT(Appeals)
5. DR: ITAT
ASSISTANT REGISTRAR
ITAT, NEW DELHI