Search Case – Commission Income Reduced, 69C Deleted & Cash Addition Shifted to Correct Year

Shirish Chandrakant Shah Vs ACIT (ITAT Mumbai) Search Case – Commission Income Reduced, 69C Deleted & Cash Addition Shifted to Correct Year Pursuant to search u/s 132, AO treated assessee as accommodation entry provider and made multiple additions including commission @1.75%, cash in locker ₹1.18 Cr, ₹28L cash & 69C expenditure. CIT(A) confirmed additions. ITAT held: 153D approval valid – no evidence of mechanical approval Commission income – partly sustained but reduced Activity of accommodation entries upheld However, internal/circular transactions to be excluded ...