Accommodation Entry Case: ITAT Reduces Commission Rate to 1%

Mikesh Enterprises Pvt. Ltd. Vs DCIT (ITAT Delhi) The appeal for Assessment Year 2011–12 was filed by the assessee against the order dated 23.10.2024 passed by the Commissioner of Income Tax (Appeals)-25, Delhi, arising from reassessment proceedings under sections 147 read with 144 of the Income-tax Act, 1961. When the matter was called for hearing before the Income Tax Appellate Tribunal, Delhi, no one appeared on behalf of the assessee despite multiple opportunities. Accordingly, the appeal was decided ex parte. The Assessing Officer had reassessed the income at ₹1,88,39,440 against a re...