observed that AIR information
was received from ITD database and the assessee was given the same to
reconcile it with its books of accounts ... assessee also submitted
that the data from ITD database may be incorrect or the parties may have
erroneously put wrong PAN and accordingly adding
issued to FSPL was received back unserved
and as per ITD database that the company's
income and tax for various years were
sales and income figures of these investor entities as per their
ITD database details depict too meek a balance sheet to justify such huge fund
deposits in Canara bank.
5.1 From the information available in the ITD database, the AO found that
cash deposit of 54 80,000 been made
ITD information, Rajesh Gupta (HUF) is having PAN:
AAGHR9262M address at 14, Sainik Farm, Lane C-3, Khanpur,
New Delhi. Further, as per ITD database
assessment proceedings based on the information received by the AO from ITD database, it
was found that substantial cash deposit
Institutional
Investor (FII). The A.O noticed from the departments data base (ITD),
that assesse had not filed its return of income for assessment year ... observed from the data as per ITD database that the assesse had
entered into purchase and sale of equities on stock
exchanges/commodities exchanges, however
conducted by CBDT is mostly restricted to
database (e.g. ITRs, ITD database, MCA portal) as
suspected business entities were found to be non-existent
assessment
proceedings, the Assessing Officer noted from Form 26AS downloaded
from ITD database that the appellant received income in the nature of
contracts and commission
could not be served at the two
addresses found from the ITD database. The invoices prepared by assessee giving
address of M/s Nirav
