Reopening on the basis of information of accommodation entries justified

IN THE ITAT DELHI BENCH ‘E’ Income-tax Officer, Ward 5(4), New Delhi v. Mukut Finvest & Properties (P.) Ltd. IT APPEAL NO. 231 (DELHI) OF 2011 C.O. NO. 154 (DELHI) OF 2011 [ASSESSMENT YEAR 2002-03] APRIL 27, 2012 ORDER K.G. Bansal, Accountant Member – The only substantive ground taken by the revenue in this appeal is that the ld. CIT (Appeals) erred in deleting the addition of Rs. 14.45 lakh made by the AO u/s 68 in respect of unexplained credits. It is also mentioned that the assessee did not discharge the burden of proving existence and creditworthiness...