ITAT Directs AO to Share Information on 32,855 Beneficiaries of Accommodation Entries

Naresh Manakchand Jain Vs ACIT (ITAT Mumbai) In a recent case, Naresh Manakchand Jain faced the scrutiny of the Income Tax Appellate Tribunal (ITAT) in Mumbai. The tribunal issued a directive to the Assessing Officer (AO) to disseminate essential information regarding 32,855 beneficiaries implicated in accommodation entry schemes. Background of the Case: Naresh Manakchand Jain, the appellant, was at the center of attention in two appeals, both related to the assessment year 2012-13. He was known for providing accommodation entries to a staggering 32,855 beneficiaries, amounting to several hund...