Deviyani Dilip Patel, CHENNAI V. ITO Non Corporate Ward 3(2), CHENNAI

ITA 3198/CHNY/2017

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 5031 (ITAT-CHENNAI)
• Duration Of Justice: 1 year(s) 4 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 21-05-2019
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2011-2012
• Appeal Filed On: 27-12-2017
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Question of law
• Section: 143(3); 133(6)

Judgement Text

, , IN THE INCOME-TAX APPELLATE TRIBUNAL A BENCH, CHENNAI . , , BEFORE SHRI DUVVURU RL REDDY, JUDICIAL MEMBER & SHRI S. JAYARAMAN, ACCOUNTANT MEMBER ./ I.T.A.NO.3198/MDS/2017 / ASSESSMENT YEAR :2011-12 SMT. DEVIYANI DILIP PATEL, NEW NO. 9, OLD NO. 6, DHANAMMAL STREET, SPUR TANK ROAD, CHETPET, CHENNAI 600 031. [PAN:AALPP6624L] VS. THE INCOME TAX OFFICER, NON-CORPORATE WARD 3(2), CHENNAI 34. ( /APPELLANT ) ( / RESPONDENT ) / APPELLANT BY : NONE / RESPONDENT BY : SHRI AR. V. SREENIVASAN, JCIT / DATE OF HEARING : 24.04.2019 /DATE OF PRONOUNCEMENT : 21.05.2019 / O R D E R PER DUVVURU RL REDDY, JUDICIAL MEMBER: THIS APPEAL FILED BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER OF THE LD. COMMISSIONER OF INCOME TAX (APPEALS) 4, CHENNAI DATED 29.09.2017 RELEVANT TO THE ASSESSMENT YEAR 2011-12.THE ONLY EFFECTIVE GROUND RAISED BY THE ASSESSEE IS THAT THE LD. CIT(A) HAS ERRED IN CONFIRMING THE DISALLOWANCE OF WEIGHTED DEDUCTION CLAIMED UNDER SECTION 35(1)(II) OF THE INCOME TAX ACT, 1961 [ACT IN SHORT]. 2. BRIEF FACTS OF THE CASE ARE THAT THE ASSESSEE MADE A DONATION PAYMENT OF .25,00,000/- TO M/S. BHAROSHA (SOCIETY FOR WELFARE OF I.T.A. NO.3198/CHNY/17 2 HANDICAPPED PERSONS, DURGAPUR, WEST BENGAL AND CLAIMED WEIGHTAGE DEDUCTION OF .43,75,000/- FOR THE ASSESSMENT YEAR 2011-12. DURING THE COURSE OF ASSESSMENT, THE ASSESSING OFFICER NOTICED THAT THE ASSESSEE TOOK A LOAN OF .25,00,000/- FROM M/S. MEGATREND INC. VIDE CHEQUE NO. 020716 DATED 25.02.2011 [ACCOUNT NO. 449001010036430, UNION BANK OF INDIA, EGMORE BRANCH, CHENNAI] AND THE SAME CHEQUE WAS DEPOSITED IN ACCOUNT NO. 2550101100128834 HELD IN THE NAME OF M/S. BHAROSHA (SOCIETY FOR WELFARE OF THE HANDICAPPED PERSONS) AT AXIS BANK, NO. 85, PRICE ANWAR SHAH ROAD BRANCH, KOLKATA 700 033. THE ASSESSING OFFICER NOTICED THAT THE ACCOUNT NO. 2550101100128834 WAS OPENED WITHOUT COMPLIANCE OF KYC NORMS AND FOUND FICTITIOUS. A COMMISSION UNDER SECTION 133(6) OF THE AT TO THE SOCIETY FOR WELFARE OF THE HANDICAPPED PERSONS, FOR CONFIRMATION OF THE SAID RECEIPT OF DONATION. THE ACCOUNTANT OF THE TRUST STATED THAT THEY WERE NOT HAVING ANY ACCOUNT IN AXIS BANK AND THIS ACCOUNT WAS OPENED WITH THE HELP OF SOME BANK OFFICIALS WITHOUT COMPLIANCE OF KYC NORMS. ACCORDINGLY ASSESSMENT UNDER SECTION 143(3) OF THE ACT WAS COMPLETED BY MAKING DISALLOWANCE OF DEDUCTION OF .43,75,000/- CLAIMED UNDER SECTION 35(1)(II) OF THE ACT. ON APPEAL, THE LD. CIT(A) CONFIRMED THE ASSESSMENT. ON FURTHER APPEAL, VIDE ORDER IN I.T.A. NO. 2316/MDS/2015 DATED 18.08.2016, THE TRIBUNAL DIRECTED THE ASSESSING OFFICER TO RE-EXAMINE THE ISSUE AND THE OBSERVATIONS ARE REPRODUCED AS UNDER: I.T.A. NO.3198/CHNY/17 3 THE ASSESSING OFFICER ALSO NEEDS TO EXAMINE WHEN THE FUNDS WERE CREDITED IN THE SO-CALLED FICTITIOUS ACCOUNT, HOW THIS MONEY CREDITED INTO SUCH FICTITIOUS ACCOUNT WAS TRANSFERRED TO REAL ACCOUNT MAINTAINED BY THE SOCIETY FOR WELFARE OF HANDICAPPED PERSONS. THESE FACTS ARE NOT EXAMINED BY THE ASSESSING OFFICER. THE CHAIN OF TRANSACTIONS, WHICH HAPPENED TO CREDIT THE LARGE AMOUNT OF FUNDS WITH FICTITIOUS ACCOUNT OPENED BY AXIS BANK, KOLKATA, THE ROLE PLAYED BY THE OFFICIALS OF AXIS BANK AND THE RECEIPT OF SOCIETY NEED TO BE EXAMINED. THEREFORE, THIS TRIBUNAL IS OF THE CONSIDERED OPINION THAT THE MATTER NEEDS TO BE RE- EXAMINED. IN VIEW OF THE ABOVE DIRECTIONS, AFTER OBTAINING AND CONSIDERING THE VERIFICATION REPORT OF INVESTIGATION WING, CONSIDERING THE SUBMISSIONS OF THE ASSESSEE, THE ASSESSING OFFICER COMPLETED THE ASSESSMENT UNDER SECTION 143(3) R.W.S. 254 OF THE ACT BY DISALLOWING THE WEIGHTAGE DEDUCTION UNDER SECTION 35(1)(II) OF THE ACT CLAIMED BY THE ASSESSEE. ON APPEAL, THE LD. CIT(A) CONFIRMED THE ASSESSMENT. 3. ON BEING AGGRIEVED, THE ASSESSEE IS IN APPEAL BEFORE THE TRIBUNAL. WHEN THE APPEAL WAS TAKEN UP FOR HEARING, NONE APPEARED ON BEHALF OF THE ASSESSEE OR ANY ADJOURNMENT PETITION FILED BY THE ASSESSEE DESPITE NOTING THE NEXT DATE OF HEARING BY MAKING ENDORSEMENT IN THE ORDER SHEET. HENCE, WE PROCEED TO DECIDE THE APPEAL ON MERITS AFTER HEARING THE LD. DR. 4. WE HAVE HEARD THE LD. DR, PERUSED THE MATERIALS AVAILABLE ON RECORD AND GONE THROUGH THE ORDERS OF AUTHORITIES BELOW INCLUDING VARIOUS CASE LAW FILED BY THE FORM OF PAPER BOOK BY THE ASSESSEE. THE PRESENT APPEAL PREFERRED BY THE ASSESSEE IS SECOND ROUND OF LITIGATION. THE SMC BENCH OF I.T.A. NO.3198/CHNY/17 4 THE TRIBUNAL IN I.T.A. NO. 2316/MDS/2015 DATED 18.08.2016 REMITTED THE ENTIRE ISSUE BACK TO THE FILE OF THE ASSESSING OFFICER TO DECIDE THE ISSUE BASED ON THE OBSERVATION OF THE DIVISION BENCH OF THE TRIBUNAL MADE IN THE CASE OF MRS. REKHA GOENKA V. ITO IN I.T.A. NO. 2244/MDS/2016 DATED 01.06.2016. IN BOTH THE CASES, AS REFERRED ABOVE, THE TRIBUNAL INSISTED FOR VERIFICATION OF THE FACT THAT WHEN THE SOCIETY CLAIMS THAT THEY HAVE NO ACCOUNT IN AXIS BANK, HOW THE FUNDS IN THE AXIS BANK ACCOUNT WERE TRANSFERRED FROM THAT ACCOUNT TO STATE BANK OF INDIA ACCOUNT WHERE THE SOCIETY MAINTAINS ITS ACCOUNT. ACCORDINGLY, THE ASSESSING OFFICER REQUESTED THE DDIT (INV.) TO CONDUCT ENQUIRIES AND TO VERIFY THE FOLLOWING FACTS: I. THE ASSESSEE MADE PAYMENT OF RS.25,00,000/- TO ACCOUNT NO. 2550101100128834 WHICH BELONGS TO THE TRUST M/S. SOCIETY FOR WELFARE OF THE HANDICAPPED PERSONS (PAN:AAETS6278C) AXIS BANK, PRINCE ANWAR SHAW ROAD BRANCH, KOLKATA VIDE CHEQUE NO. 020716, DATED 25/02/2011 (ISSUED BY M/S MEGATRAND INC., UNION BANK OF INDIA). TO EXAMINE THE KYC DETAILS OF THE AXIS BANK ACCOUNT, LIKE INTRODUCER OR ANY OTHER LINKED ACCOUNT IN ANY OTHER BANK ETC. II. TO VERIFY THE GENUINENESS OF THE RECEIPT NO. C044/10-11 ISSUED BY THE SAID TRUST M/S BHAROSHA (SOCIETY FOR WELFARE OF THE HANDICAPPED PERSONS) IN FAVOUR OF THE ASSESSEE IS GENUINE? III. HOW THIS AMOUNT OF RS.25,00,000/- WAS TRANSFERRED FROM A/C NUMBER 2550101100128834 (AXIS BANK) TO ACTUAL ACCOUNT (ANY OTHER BANK) OF THE GENUINE TRUST M/S. SOCIETY FOR WELFARE OF THE HANDICAPPED PERSONS. TO VERIFY THE MODUS OPERANDI OR PROCEDURES ADOPTED TO TRANSFER THE FUND. (PLEASE FURNISH THE DETAILS OF THE TRUST'S ACTUAL ACCOUNT.) IV. WHETHER ANY OTHER SUCH FUND TRANSFERS HAVE OCCURRED BETWEEN THE AXIS BANK ACCOUNT MENTIONED ABOVE, TO THE REAL ACCOUNT OF THE SAID TRUST AND VERIFY THE RELATION BETWEEN THE ENTITIES. V. WHETHER, THE SAID TRUST M/S. BHAROSHA (SOCIETY FOR WELFARE OF THE HANDICAPPED PERSONS) IS ACTUALLY NOTIFIED FOR HAVING EXEMPTION U/S 35(1)(II)? I.T.A. NO.3198/CHNY/17 5 5. THE VERIFICATION REPORT OF THE ADIT (INV.), DURGAPUR (O/O PR. DIT (INV.) KOLKATA) IS REPRODUCED AS UNDER: 1. THERE IS AN ORGANISATION SOCIETY FOR WELFARE OF THE HANDICAPPED PERSONS AT ITS REGISTERED OFFICE AT 27, TAGORE AVENUE, DURGAPUR, HAVING ITS PAN - AAETS6278C WITH DATE OF INCORPORATION AS 09.06.1981. THE SOCIETY IS CLAIMED TO BE RECOGNISED BY THE MINISTRY OF SCIENCE AND TECHNOLOGY AND IS ENGAGED IN RESEARCH AND DEVELOPMENT OF MEDICINE FOR VARIOUS DISEASES LIKE LEPROSY ETC. ON PHYSICAL ENQUIRY, IT WAS FOUND THAT THE SOCIETY IS ESTABLISHED LONG AGO AND ACTUALLY INVOLVED IN CARE AND TREATMENT OF DISABLED AND HANDICAPPED PERSONS. 2. THE SOCIETY DOES NOT MAINTAIN ANY BANK ACCOUNT IN AXIS BANK LTD. ANYWHERE IN INDIA. ON INVESTIGATION IT WAS REVEALED THAT SOME UNSCRUPULOUS PERSON OPENED ONE BANK A/C IN THE NAME OF THIS SOCIETY AT AXIS BANK, PRINCE ANWAR SHAH BRANCH, KOLKATA IN 2009 WITH FORGED DOCUMENTS AND FORGED ADDRESS. IT IS NOT KNOWN HOW THE BANK ALLOWED OPENING THE ACCOUNT WITHOUT PROPER VERIFICATION. IT INDICATES INVOLVEMENT OF BANK INSIDER IN THIS MATTER. HUGE DEPOSITS WERE MADE IN THIS FALSE A/C OVER TWO-THREE YEARS AND FUNDS WERE TRANSFERRED TO VARIOUS OTHER TRUSTS AND ORGANISATIONS. 3. THE MATTER CAME TO THE NOTICE OF SRI DHRUBA CHAKRABORTHY, PRESIDENT OF THE SOCIETY IN 2011 AND IMMEDIATELY FIR WAS LODGED IN DURGAPUR P.S. ON 05.07.2011 VIDE FIR NO.262/11. SUBSEQUENTLY, THE MATTER WAS TAKEN UP BY STATE CID OF WEST BENGAL GOVT AND CHARGE SHEET HAS BEEN FILED IN 2016. THE SOCIETY HAS ALSO FILED A WRIT PETITION VIDE NO. WP 8452 (W) OF 2015 BEFORE THE HON'BLE HIGH COURT OF KOKATA IN THIS MATTER AND THE HIGH COURT IN ITS INTERIM ORDER DATED 09.01.2017 HAS DIRECTED THE RBI TO SUBMIT ENQUIRY REPORT IN THIS REGARD. FINANCIAL CRIME MANAGEMENT DEPARTMENT OF AXIS BANK IS ALSO ASKED TO FURNISH AND COMPLY WITH ALL PROVISION OF LAW IN THIS CASE. 4. IT IS REPORTED THAT THE MATTER IS AT PRESENT UNDER THE INVESTIGATION OF CVO, RBI, MUMBAI AND PRIMA FACIE, IT IS GATHERED THAT SOME INSIDERS OF AXIS BANK INVOLVED IN THIS CASE HAS ALREADY BEEN SUSPENDED BY THE BANK. PARALLEL ENQUIRY IS BEING CONDUCTED BY RBI AND STATE POLICE. 5. IT TRANSPIRES FROM THE ENQUIRY THAT THERE IS NO GENUINENESS OF EXEMPTION CLAIM U/S 35(1) OF THE INCOME TAX ACT, 1961 IN THIS CASE. ALL THE DEPOSITS AND RECEIPTS OF THIS ACCOUNT WERE FRAUDULENTLY USED BY THE WRONG PERSON WHO OPENED THE SAME AND ACCORDINGLY, THE ALLEGED DONATION OF RS.25,00,000/- BY SMT. DEVIYANI DILIP PATEL IS NOT ACTUALLY RECEIVED BY THE ACTUAL SOCIETY AND THEREFORE THERE IS NO QUESTION ALLOWANCE U/S 35(1) OF THE ACT IN THIS CASE. IT MAY HAPPEN THAT SIMILAR DONATIONS HAVE BEEN MISAPPROPRIATED IN THIS CASE. FURTHER INVESTIGATION IS UNDER PROCESS IN THIS CASE. I.T.A. NO.3198/CHNY/17 6 6. IN LIGHT OF THE VERIFICATION MADE BY THE ADIT(INV.), DURGAPUR, IT IS CLEAR THAT THE AMOUNT OF .25,00,000/- WAS NOT RECEIVED BY THE SOCIETY FOR WELFARE OF HANDICAPPED PERSONS (REAL TRUST) AND THE SAID TRUST WAS NOT HAVING ANY ACCOUNT IN AXIS BANK ANYWHERE IN INDIA. HENCE, THE DONATION CLAIMED TO HAVE MADE BY ASSESSEE IN THE SAID AXIS BANK A/C LOCATED AT PRINCE ANWAR SHAH BRANCH WAS FOUND TO BE BOGUS. 7. UPON THE VERIFICATION REPORT OF THE DEPARTMENT, THE ASSESSEE WAS SUMMONED TO APPEAR AND SUBSTANTIATE HER CLAIM. THE ASSESSEE FILED HER REPLY AND RAISED THE FOLLOWING OBJECTIONS: 1. WHAT IS THE STATUS OF THE POLICE COMPLAINT FILED? HAS FURTHER ACTION BEEN TAKEN AGAINST AXIS BANK? 2. IF THE ACCOUNT IN AXIS BANK HAS BEEN OPENED WITHOUT CONFIRMING TO KYC NORMS, HOW IS IT THAT FUNDS HAVE BEEN TRANSFERRED FROM THE AXIS BANK ACCOUNT TO THE STATE BANK OF INDIA ACCOUNT OF THE SOCIETY? I WAS UNDER THE IMPRESSION THAT IF KYC NORMS HAVE NOT BEEN COMPLIED WITH, THE ACCOUNT IS FROZEN. 3. THE AXIS BANK ACCOUNT DETAILS PROVIDED, SHOW THE PAN OF THE ACCOUNT HOLDER TO BE THE SAME AS THAT OF THE SOCIETY. IN SUCH CIRCUMSTANCES, WHO HAS BEEN OPERATING THE AXIS BANK ACCOUNT? WHO OPENED THE AXIS BANK ACCOUNT IN THE NAME OF THE SOCIETY? 4. DOES YOUR VERIFICATION SHOW THAT THE MONEY HAS FLOWN BACK TO ME? I PUT YOU TO STRICT PROOF TO SHOW THE MONEY HAS COME BACK TO ME. 5. I WOULD LIKE TO UNDERSTAND FROM YOU THAT ALL THE DIRECTIONS OF THE HON'BLE TRIBUNAL HAS BEEN COMPLIED WITH BY YOU. AGAINST THE OBJECTIONS OF THE ASSESSEE, THE ASSESSING OFFICER OBSERVED AS UNDER: I.T.A. NO.3198/CHNY/17 7 1. THE FIRST THREE GROUNDS, RELATE TO MATTERS WHICH ARE NOT UNDER THE PURVIEW OF JURISDICTION THIS OFFICE. THE SAID ISSUES ARE NOT RELATED TO INCOME TAX PROCEEDINGS. 2. FOR THE FOURTH GROUND, THE ONUS IS ON THE ASSESSEE TO PROVE THE GENUINENESS OF THE TRANSACTION SINCE THE ASSESSEE IS GETTING THE BENEFIT OF WEIGHTED DEDUCTION AS PER INCOME TAX ACT. THE ONUS IS ON RILE ASSESSEE TO PROVE, BEYOND DOUBT, THE GENUINENESS OF THE CLAIM MADE BY IT U/S 35(1)(II). MERELY ON THE BASIS THAT THE TRANSACTIONS OCCURRED THROUGH BANKING CHANNEL DOESN'T PROVE THAT THE TRANSACTION IS GENUINE. HENCE, THIS GROUND IS ALSO REJECTED. 3. FOR THE FIFTH GROUND, THE DIRECTIONS OF THE HON'BLE ITAT HAVE BEEN PROPERLY CARRIED OUT IN YOUR CASE. 8. THE SUBSTANTIAL QUESTION OF LAW ARISES IN THIS CASE IS WHETHER, THE DONATION GIVEN BY THE ASSESSEE WAS ACTUALLY REACHED THE DONEE AND HAVING ACCEPTED THE DONATION, THE DONEE HAS ISSUED VALID RECEIPT TO THE ASSESSEE SO AS TO ENABLE THE ASSESSEE TO CLAIM WEIGHTED DEDUCTION UNDER SECTION 35(1)(II) OF THE ACT? ADMITTEDLY, THE ASSESSEE HAS NOT MADE ANY DONATION BY ISSUING ANY CHEQUE OR DEMAND DRAFT FROM HER BANK ACCOUNT. HOWEVER, THE ASSESSEE CLAIMS THAT THE LOAN AMOUNT OF .25,00,000/- OBTAINED FROM MEGATRENDS INC., WHERE, THE ASSESSEES HUSBAND IS PARTNER, WAS DEPOSITED IN AXIS BANK ACCOUNT IN THE NAME OF THE SOCIETY. WHEN THE SOCIETY WAS SUMMONED UNDER SECTION 133(6) OF THE ACT, IT WAS STATED THAT THE SOCIETY IS NOT HAVING ANY ACCOUNT IN AXIS BANK. IN THIS CASE, CONFIRMATION OF RECEIPT OF DONATION BY THE DONEE IS NOT AVAILABLE AND MOREOVER, ASSESSEE HAS NOT PRODUCED ANY EVIDENCE OF THE DONATION HAVING RECEIVED BY THE SOCIETY SO THAT THE DONOR (ASSESSEE) CAN CLAIM THE WEIGHTED DEDUCTION UNDER SECTION 35(1)(II) OF THE ACT. FROM THE EFFORTS OF THE INVESTIGATION WING OF THE I.T.A. NO.3198/CHNY/17 8 DEPARTMENT, IT REVEALS THAT BANK A/C IN AXIS BANK, KOLKATA DOES NOT BELONG TO THE REAL TRUST IN DURGAPUR (I.E. SOCIETY FOR WELFARE OF HANDICAPPED PERSONS, DURGAPUR) AND THE MATTER REGARDING THE ALLEGED PAYMENT OF AMOUNTS INTO THE SAID ACCOUNT IS BEING INVESTIGATED BY VARIOUS AGENCIES INCLUDING RBI & WEST BENGAL STATE POLICE DEPARTMENT. INVESTIGATIONS HAVE FURTHER REVEALED THAT THE ORIGINAL TRUST AT DURGAPUR HAS TAKEN UP THE MATTER WITH THE HIGH COURT, REGARDING MIS-USE OF ITS NAME & PAN, BY MISCREANTS. THUS, THESE FACTS POINT TO THE FACT THAT THE SAID AXIS BANK ACCOUNT CLAIMED TO BELONG TO BHAROSHA (I.E. SOCIETY FOR WELFARE OF HANDICAPPED PERSONS, DURGAPUR), IS FICTITIOUS. THUS, THE ENTIRE INVESTIGATION OF THE DEPARTMENT REVEALS THAT THE ENTIRE TRANSACTION WAS SHAM. THE MATTER OF FICTITIOUS ACCOUNT OPERATED IN THE AXIS BANK IS SUBJUDICIAL AND NOT COMING UNDER THE JURISDICTION OF THE INCOME TAX DEPARTMENT. THUS, THE CLAIM OF THE ASSESSEE THAT THE ALLEGED PAYMENT OF DONATION IS GENUINE, IS NOT ACCEPTABLE, BECAUSE, THE ASSESSEE HAS NOT FURNISHED ANY DETAIL/EVIDENCE TO PROVE THAT THE DONATION OFFERED BY THE ASSESSEE IS GENUINE TRANSACTION SINCE THE DONATION WAS DEPOSITED IN AXIS BANK, WHERE, SOCIETY IS NOT MAINTAINING ANY ACCOUNT AND THE SOCIETY ALSO NOT CONFIRMED HAVING RECEIVED THE SAID DONATION. IN CASE, IF THE ASSESSEE DEPOSITED THE LOAN AMOUNT CHEQUE IN HER BANK ACCOUNT AND THEREAFTER, SEND THE DONATION FROM HER BANK ACCOUNT, ON RECEIPT OF THE SAME BY THE DONEE, THE AMOUNT WOULD HAVE BEEN DEBITED FROM ASSESSEES ACCOUNT AND WOULD BE EVIDENT THAT THE DONEE HAS RECEIVED THE DONATION. I.T.A. NO.3198/CHNY/17 9 ACTUALLY, THIS WAS NOT DONE IN THIS CASE. THE ASSESSEE CLAIMS TO HAVE DEPOSITED THE LOAN CHEQUE INTO AXIS BANK AS A DONATION TO THE ASSESSEE, WHERE, THE DONEE HAS NOT MAINTAINING ANY ACCOUNT, THE INCOMPLETE TRANSACTION CANNOT BE HELD AS GENUINE AND BONAFIDE TRANSACTION AND THE TRANSACTION IS NOTHING BUT BOGUS. WHEN THERE IS NO PIECE OF EVIDENCE THAT THE ASSESSEES DONATION WAS REMITTED TO DONEES BANK ACCOUNT, THE ASSESSEE CANNOT CLAIM WEIGHTED DEDUCTION UNDER SECTION 35(1)(II) OF THE ACT SINCE THERE IS NO GENUINENESS IN THE ABOVE TRANSACTION. THE CITATION OF VARIOUS DECISIONS FILED IN THE FORM OF PAPER BOOK HAS NO RELEVANCE TO THE FACTS OF THE PRESENT CASE. THUS, THE GROUND RAISED BY THE ASSESSEE IS DISMISSED. 9. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS DISMISSED. ORDER PRONOUNCED ON THE 21 ST MAY, 2019 AT CHENNAI. SD/- SD/- (S. JAYARAMAN) ACCOUNTANT MEMBER (DUVVURU RL REDDY) JUDICIAL MEMBER CHENNAI, DATED, THE 21.05.2019 VM/- /COPY TO: 1. / APPELLANT, 2. / RESPONDENT, 3. ( ) /CIT(A), 4. /CIT, 5. /DR & 6. /GF.