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7. Upon assessee's appeal learned CIT(A) noted that on couple of occasions when the case was posted nobody appeared on behalf of the assessee and on one occasion assessee sought adjournment. The learned CIT(A) opined that assessee doesn't have anything else to submit hence he decided as under :-

"The Addition made by the AO is based on the detailed findings of the Income tax Investigation Wing Mumbai in the case of Pravin Jain Group as the appellant is a beneficiary who has taken accommodation entry in the nature of loan/advance which is not genuine from a lender who was not carrying on any genuine business activity but was only providing accommodation entries in lieu of cash obtained from beneficiaries. The findings clearly established the nonexistence of entities who were providing accommodation entries. The statement recorded during the course of search revealed that the Director/ Proprietors were merely dummy Directors who provided their signature in return for nominal consideration. The bogus books of accounts of all entities involved in providing" accommodation entries were found at a discrete place of operation of Shri Pravin Kumar Jain which clearly indicated that there was no premises from which any genuine business activity was being carried out and that all books of account of these shell companies were under the control of Shri Pravin Kumar Jain. Also in the statement of Shri Pravin Kumar Jain recorded u/s. 132(4) at Question No. 63 the Kingpin and mastermind of this accommodation entry racket named various companies/ entities which were under his direct control and amongst this list of 39 such entities the names of the two entities which had afforded the loan of Rs.10 lakhs each to the appellant find appropriate mention. Thus, the addition made by the AO was based on solid fact and evidences.