Accommodation Entry Allegation Rejected Due to Proper Documentation

ACIT Vs Yatindra Satish Pairaikar (ITAT Mumbai) Section 68 Can’t Survive on Investigation Report Alone: Cheque Loans, Confirmations & Repayments Trump “Accommodation Entry” Tag Revenue reopened assessments alleging that Assessee was beneficiary of bogus unsecured loans from M/s Naman Exports & M/s Meridian Gems, solely based on Investigation Wing report branding them as accommodation entry providers. AO, despite issuing notices u/s 133(6) & receiving confirmations, bank statements, audited accounts, ITRs & balance sheets of lenders, brushed aside all documentary evidence ...