No addition if Assessee was not beneficiary of accommodation entry business

HIGH COURT OF DELHI Commissioner of Income-tax Versus Priyanka Ship Breaking Co. (P.) Ltd. IT APPEAL NO. 526 OF 2010 SEPTEMBER 17, 2012 JUDGMENT R.V. Easwar, J. This is an appeal filed by the Commissioner of Income Tax under Section 260A of the Income Tax Act, 1961 (Act for short). On 31st January, 2012 the appeal was admitted and the following substantial questions of law were framed:- “1.  Whether the Income Tax Tribunal was right in deleting the addition of Rs.28,50,000/- made in the block assessment order dated 08.05.2009 on account of peak credits in the account of...