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Showing contexts for: Motion Re in M/S. Rozelle Sales & Services Pvt. Ltd., ... vs Acit, Central Circle - 1(1), , Kolkata on 30 August, 2019Matching Fragments
3. The assessment/re-assessment order dated 30-11-2017 forming subject matter. The impugned 263 proceedings reveals that the department had carried out a search dated 25-08-2015 in M/s. Ghanshyam Sarda Group of cases. It noticed therein that M/s. Rozelle Sales & Services P.Ltd.
Shri Gopal Sarda had controlled and managed the assessee NBFC. The assessee had raised total share capital of Rs. 5 crores during the relevant previous year. One Shri Suresh Kumar Pansukha's got recorded his statement during the course of the said search admitting himself to be an entry operator controlling and managing a number of shell/jamakharchi companies. He further deposed that has companies M/s. P.R Niryat Pvt. Ltd, Suman Vanijya Pvt. Ltd and Urch Traders Pvt. Ltd. Had invested in shares of M/s Nillampathy Tracon Pvt. Ltd & M/s. Rozelle Sales & Services P.Ltd . The Assessing Officer noticed in this factual backdrop that one of assessee's (seventeen) shares subscriber was M/s Urch Traders P.Ltd. He, therefore, framed reasons to before us this back drop of facts that the assessee company had ploughed back unaccounted income as share capital thereby giving rise an instance of the taxable income having escaped assessment. He set into to motion section 148/147 proceedings vide re- opening notice served on the assessee on 30.03.2017