Allowing the appeal the Tribunal held that in reasons recorded, name of assessee and person from whom bogus accommodation entry are different, name of party and Permanent Account Number in information received also different. Reassessment order was not valid. Addition as cash credit was also deleted on merit. (AY.2011-12)
Golden Central Foods Products P. Ltd. v. ITO(2022)100 ITR 49 (SN)(Delhi) (Trib)
S. 147 : Reassessment-Unsecured loans-Accommodation entries-In reasons recorded, name of assessee and person from whom bogus accommodation entry different-Name of party and Permanent Account Number in information received also different-Reassessment not valid-Addition as cash credit was deleted. [S. 68, 133(6), 148]