ITAT Delhi Quashes Reassessments Based on Retracted Statement of Entry Operator

Singhal Fasteners Company Pvt. Ltd. Vs DCIT (ITAT Delhi) Borrowed Satisfaction Invalid – ITAT Delhi Quashes Reassessments Based on Retracted Statement of Entry Operator Shankar Radhey Finance & Investment Co. Pvt. Ltd. Vs ITO (ITA No.1067/Del/2019, AY 2009-10); Raghvender Shankar Finance & Investment Co. Pvt. Ltd. Vs ITO (ITA No.8572/Del/2019, AY 2006-07) These three appeals were filed against reassessment orders framed u/s 147/148 based solely on statements of one Shri Aseem Kumar Gupta (alleged entry operator), who was said to have provided accommodation entries. The allegation wa...