Accommodation Entry Case: ITAT Cuts Commission Rate to ₹8,000 per Cr, Upholds Penalty

Sumit Jindal Vs DCIT (ITAT Delhi) Accommodation Entry Provider Case – Tribunal Fixes Commission @ ₹8,000 per Crore Instead of ₹15,000 For A.Y. 2018-19, AO completed assessment u/s 153A r.w.s. 143(3) assessing income at ₹73.98 lakhs against returned income of ₹4.96 lakhs. Additions included ₹62.11 lakhs as commission from accommodation entries & ₹6.90 lakhs as bogus expenses. AO estimated commission at ₹15,000 per crore on ₹431 crores of entries, whereas Assessee admitted only ₹5,000 per crore. CIT(A) confirmed. Tribunal observed that seized material showed commission ra...