Directs AO to Reassess ₹92 Lakh Addition & Determine Commission on Accommodation Entry

Vimal Jagdishprasad Agarwal Vs PCIT-3 (ITAT Ahmedabad)

ITAT Ahmedabad reviewed an appeal by Vimal Jagdishprasad Agarwal concerning an order passed by the Principal Commissioner of Income Tax (PCIT) under Section 263 of the Income Tax Act for Assessment Year 2014-15. The dispute originated from an assessment under Section 143(3) read with Section 147, which included an addition of ₹92 lakh for accommodation entries. The PCIT deemed the assessment erroneous and prejudicial to revenue interests, directing the Assessing Officer (AO) to conduct a fresh, de novo assessment to evaluate

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