Accommodation Entry Purchases Invite 100% Disallowance, Not Estimation

Pinkal Dilip Bhansali Vs ITO (ITAT Mumbai) Bogus Diamond Purchases Fully Disallowed: ITAT Mumbai Upholds 100% Addition u/s 69C Based on Jain–Choudhary Accommodation Entry Racket ITAT Mumbai (C Bench) in Pinkal Dilip Bhansali vs ITO (ITA No. 1701/Mum/2025, AY 2011-12, order dated 23.12.2025) has dismissed the assessee’s appeal, upholding reopening u/s 148 and 100% disallowance of ₹2.24 crore u/s 69C towards alleged bogus diamond purchases from M/s Nazar Impex Pvt. Ltd., an entity found to be part of the Rajendra Jain / Sanjay Choudhary accommodation-entry group. The reassessment was initi...