Case Law Details
Brief Facts of the case:
A search was conducted in the premises of Mr Manoj Agarwal on 03-08-2000 and documents were seized.The present assesses were issued a notice on 22.03.2004 alleging that the same has been issued on account of opinion formation in terms of sec 158BB of Manoj Aggarwal’s assessing Officer. The opinion was read as under:
“1) Various diaries have been seized from the possession of Sh. Manoj Aggarwal which establish that Radhey Shyam Bansal is a mediator for providing accommodation book entries by Sh. Manoj Aggarwal. The quantum of transaction done by him as per these documents is given in Annexure-A. Photocopies of these paper are enclosed in Annexure-B.
2) There are evidences of cash having been received by Mr. Manoj Aggarwal from Radhey Shyam Bansal.The summary of the amounts so received as per various seized documents is given in Annexure-C. The photocopies of these documents are provided as per Annexure-D.”
This case reaches ITAT who by taking the reference of the judgement Manish Maheshwari V.ACIT 2007 289ITR 341(SC) announced that the requirement of sec158BB has not complied with. The revenue challenged the order of ITAT in ITA582/2008.
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