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ITAT Upholds 5% Income Estimation on Accommodation Entry Transactions
Case Law Details
- Case Name
- Suresh Kumar Vs ACIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2012-13
- Courts
- All ITAT, ITAT Delhi
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Suresh Kumar Vs ACIT (ITAT Delhi)
Bogus Sales/Accommodation Entries- ITAT Confirms 5% Estimation for Entry Operator: Both Assessee & Revenue Appeals Dismissed
Tribunal decided four cross appeals involving additions on account of alleged bogus sales & accommodation entry business. AO had treated entire bank credits as unexplained & assessed income at Rs.8.14 crore for AY 2012-13 as against returned income of Rs.4.41 lakh, based on Investigation Wing findings that
Assessee was engaged in providing accommodation entries without any actual delivery of goods. CIT(A)/NFA...
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