No section 68 Addition in Absence of Primary & Independent Enquiry by AO

Homeway Marketing (P) Ltd. Vs ITO (ITAT Delhi) The issue under consideration is whether the addition made u/s 68 for assessee helped various beneficiaries in providing accommodation entries in relation to capital and expenses is justified in law? ITAT states that, the Assessing Officer has taken the debits, credits income expenditure, the liabilities expenses altogether added up and considered it as an escapement of income. The initial assumption of the AO that the assessee has not accounted the commission income being a conduit of the entry operator has been enlarged to the assumption to esca...