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“entry operator”

Cash Credits & Unexplained ItemsSection 68Section 682,071 judgments

The decision most relied on for entry operator is CIT v. Jamnadevi Agarwal (328 ITR 656), cited in 230 judgments on BharatTax.

Leading authorities on entry operator

CIT v. Jamnadevi Agarwal
328 ITR 656 · 2010 · High Court
230
citing judgments

When faced with allegations of bogus long-term capital gains from penny stocks, the Assessing Officer must discharge the onus of proving that the assessee's transactions were not genuine. The assessee can rely on the principle of preponderance of probability, and the Revenue must present substantial evidence to establish that the transactions were a colourable device or that the assessee was an entry operator.

ITO, 19(3) (4) Mumbai v. Shamim M Bharwani
69 Taxmann.com 65 · 2016 · Reported
142
citing judgments

Long Term Capital Gains (LTCG) from penny stock transactions are liable to be treated as bogus and added back under Section 68 as unexplained cash credits, especially when evidence suggests the involvement of entry operators providing accommodation entries.

5. PCIT v. Paramount Communication (P.) Ltd. Delhi High Court
392 ITR 444 · 2017 · High Court
111
citing judgments

For valid initiation of reassessment proceedings, the Assessing Officer must possess tangible material and apply independent mind to form a 'reason to believe' that income has escaped assessment. Reassessment cannot be based on mere borrowed satisfaction or unverified information without proper scrutiny.

2 CIT v. Indrajit Singh Suri
33 Taxmann.com 281 · 2013 · High Court
100
citing judgments

The validity of reassessment proceedings initiated under Sections 147/148 against legal representatives of a deceased assessee requires a demonstrable 'reason to believe' that income escaped assessment, often based on third-party information such as alleged accommodation entries.

Dharappa v. Bijapur Co-operative Milk Producers Societies Union Ltd.
9 SCC 109 · 2007 · Reported
62
citing judgments

When a State Act has obtained presidential assent, its repugnant provisions prevail over the provisions of a Central Act in that State, even if both laws relate to subjects in the Concurrent List. This principle was applied to determine repugnancy between the Karnataka Co-operative Societies Act, 1959, and the Industrial Disputes Act, 1947.

CIT v. Sanghamitra Bharali
361 ITR 481 · 2014 · High Court
60
citing judgments

Capital gains arising from sham transactions, particularly those involving penny stocks designed to appear genuine, are not exempt under Section 10(38) but are taxable as unaccounted income brought into the books.

CIT v. Active Traders (P.) Ltd.
214 ITR 583 · 1995 · High Court
55
citing judgments

When a sum is credited on account of share capital or share premium, the assessee must establish the existence, identity, genuineness, and creditworthiness of the share applicants, going beyond mere submission of documents. The Assessing Officer has the power to investigate and lift the corporate veil to ascertain the bonafides of such transactions.

Income Tax Vs. India Discount Co. Ltd. 75 ITR 191 (SC), Commissioner of Income Tax v. Provincial Farmers (P) Ltd.
245 ITR 421 · 2000 · Supreme Court
55
citing judgments

The entry in the books of accounts is not determinative of the true nature of a transaction for income tax purposes; the substance of the transaction, rather than its accounting treatment, governs its taxability and deductibility.

Judgments citing entry operator

Deputy Commissioner of Income Tax, Central Circle-2, Ludhiana vs. Malbros International Pvt Ltd, Faridkot

In the result, both the appeals and the Cross Objections are dismissed

ITA 992/CHANDI/2024[2017-18]Status: DisposedITAT Chandigarh25 Jun 2025AY 2017-18

Bench: Shri Rajpal Yadav & Shri Krinwant Sahayआयकर अपील सं./ Ita Nos. 992 & 993/Chd/2024 "नधा"रण वष" / Assessment Years: 2017-18, 2016-17 The Dcit, Vs Malbros International Pvt. Ltd., Central Circle-2, Village – Mansoorwal, Teh-Zira, Ludhiana. Head Offices Old Cantt. Road, Faridkot. "थायी लेखा सं./Pan No: Aadcm7203R अपीलाथ"/Appellant ""यथ"/Respondent & C.O. Nos. 46 & 45/Chd/2024 In आयकर अपील सं./ Ita Nos. 992 & 993/Chd/2024 "नधा"रण वष" / Assessment Year: 2017-18, 2016-17 Malbros International Pvt. Ltd., The Dcit, Village – Mansoorwal, Teh-Zira, Vs Central Circle-2, Head Offices Old Cantt. Road, Ludhiana. Faridkot. "थायी लेखा सं./Pan No: Aadcm7203R अपीलाथ"/Appellant ""यथ"/Respondent Assessee By : Shri Sudhir Sehgal, Advocate Revenue By : Smt. Kusum Bansal, Cit Dr Date Of Hearing : 14.05.2025 Date Of Pronouncement : 25.06.2025

For Appellant: Shri Sudhir Sehgal, AdvocateFor Respondent: Smt. Kusum Bansal, CIT DR
Section 249Section 253Section 3Section 5

Officer denied exemption claimed by assessee under section 10(38) on long-term capital gain on sale of shares on basis of statement of entry operators recorded on various dates in some other proceedings not connected with assessee and no opportunity to cross-examine so-called entry providers was given

Asstt. Commissioner of Income Tax, Ghaziabad vs. Rohan Agarwal, Ghaziabad

In the result, the appeal of the assessee is dismissed

ITA 5624/DEL/2024[2013-14]Status: DisposedITAT Delhi25 Jun 2025AY 2013-14

Bench: Ms. Madhumita Roy & Shri Khettra Mohan Royacit Vs. Rohan Agarwal Room No. 201, Cgo-1 Kd-42, Kavi Nagar 2Nd Floor, Near Purani Ghaziabad Hapur Chungi, Up – 201001 Ghaziabad, Up- 201002 "थायीलेखासं./जीआइआरसं./Pan/Gir No: Aiupa3170F Appellant .. Respondent

For Appellant: Sh. Amit Rai, CAFor Respondent: Ms. Harpreet Kaur Hansra, Sr
Section 10(38)Section 139Section 143(2)Section 144BSection 147Section 147rSection 148Section 69A

transaction, there has to be some inquiry or material to nail the assessee that she was some kind of a beneficiary in some accommodation entry operation. No defect has been pointed out in the documents submitted by the assessee nor has the broker of the assessee been inquired upon. Simply ... term capital gain / long term capital loss through his share banking firm has been done to few beneficiaries with the help of different accommodation entry operators, promoters of the scripts of various penny stocks other brokers etc. Sh. Jai Kishan Poddar also gave details of different bogus scripts/ penny stocks

Deputy Commissioner of Income Tax, Central Circle-13, New Delhi, Jhandewalan, Delhi vs. Minda Tg Rubber Pvt Ltd, Imt

ITA 2434/DEL/2023[2015-16]Status: DisposedITAT Delhi25 Jun 2025AY 2015-16

Bench: SHRI MANISH AGARWAL (Accountant Member)

Section 143(3)Section 68

addition of Rs.10,00,00,000/- u/s 68 of the Act on account of unexplained income and on account of commission paid to entry operators Rs. 2,96,292/- total Rs. 10.02.96.292/- and penalty proceedings u/s 271(1) (c) of the Act have also been initiated. 6. Aggrieved

Deputy Commissioner of Income Tax, Central Circle-13, New Delhi, Jhandewalan vs. Rukmani Devi Auto Pvt. Ltd., Delhi

ITA 2433/DEL/2023[2015-16]Status: DisposedITAT Delhi25 Jun 2025AY 2015-16

Bench: SHRI MANISH AGARWAL (Accountant Member)

Section 143(3)Section 68

addition of Rs.10,00,00,000/- u/s 68 of the Act on account of unexplained income and on account of commission paid to entry operators Rs. 2,96,292/- total Rs. 10.02.96.292/- and penalty proceedings u/s 271(1) (c) of the Act have also been initiated. 6. Aggrieved

Income Tax Officer-1, Morena vs. Shri Agrasen Logistics, Jotai Road, Porsa

In the result, the appeal of the Revenue is dismissed

ITA 108/AGR/2025[2022-23]Status: DisposedITAT Agra24 Jun 2025AY 2022-23

Bench: Shri Sunil Kumar Singh & Shri Manish Agarwal

Section 143(2)Section 143(3)Section 250Section 68

someone on behalf of the beneficiary. Such cash is deposited in the bank account of some entity in the control of accommodation entry operator & such cash after being deposited is rotated through several layers of bank accounts & out of one such bank account, the loan or deposit is paid through ... assessee firm had taken loan from the individual lenders and none of them have ever worked as or on behalf of the accommodation entry operator 5.7. It is also noted that the AO made addition of Rs. 17,02,25,505/- in respect of unsecured loan/sundry creditors by treating

Dinessh Kumar Sharma, Jaipur vs. ITO, Ward4(2), Jaipur

In the result, appeal of the assessee is allowed

ITA 1393/JPR/2024[2013-14]Status: DisposedITAT Jaipur24 Jun 2025AY 2013-14
For Appellant: Shri Shivangi Chopra, C.AFor Respondent: Shri Gautam Singh Choudhary, JCIT-DR
Section 139(1)Section 143(2)Section 144Section 147Section 148Section 250Section 69A

Assessee had taken after paying unaccounted cash to the accommodation entry given (sic giver)". The AO adds that the said accommodation was "a known entry operator" the source being "the report of the Investigation Wing" 21. The third and last part contains the conclusion drawn by the AO that ... basis for which is not disclosed. Who is the accommodation entry giver is not mentioned. How he can be said to be "a known entry operator" is even more mysterious Clearly the source for all these conclusions, one after the other, is the Investigation report of the DIT. Nothing from

Vasudeo Real Estate Pvt. Ltd., Raipur vs. Assistant Commissioner of Income Tax, Central-2, Raipur

In the result, appeal of the assessee in ITA No

ITA 265/RPR/2025[2016-17]Status: DisposedITAT Raipur23 Jun 2025AY 2016-17

Bench: Shri Partha Sarathi Chaudhuryआयकर अपील सं./Ita Nos.261 To 265/Rpr/2025 "नधा"रण वष" /Assessment Years : 2012-13 To 2016-17 Basudeo Real Estate Private Limited Hira Arcade, First Floor, Near New Bus Stand, Pandri, Raipur-492 001 (C.G.) Pan: Aadcv1614K .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax, Central-2, Raipur (C.G.) ……""यथ" / Respondent

For Appellant: Shri R.B Doshi, CAFor Respondent: Dr. Priyanka Patel, Sr. DR
Section 131Section 132Section 153CSection 41(1)

books of account in the garb of unsecured loans in the mane of fictitious companies through a series of layering transactions using Kolkata based entry operators. Consequently, notices u/s 153C of the Act dt.15.12.2016 was issued to the assessee to file the return for the year under consideration. In response ... books of account in the form of unsecured loans in the mane of fictitious companies through a series of layering transactions using Kolkata based entry operators. Hence, the claim of the assessee that the Assessing Officer assessment proceedings u/s 153C of the Act was initiated without any satisfaction note

Vasudeo Real Estate Pvt. Ltd., Raipur vs. Assistant Commissioner of Income Tax, Central-2, Raipur

In the result, appeal of the assessee in ITA No

ITA 264/RPR/2025[2015-16]Status: DisposedITAT Raipur23 Jun 2025AY 2015-16

Bench: Shri Partha Sarathi Chaudhuryआयकर अपील सं./Ita Nos.261 To 265/Rpr/2025 "नधा"रण वष" /Assessment Years : 2012-13 To 2016-17 Basudeo Real Estate Private Limited Hira Arcade, First Floor, Near New Bus Stand, Pandri, Raipur-492 001 (C.G.) Pan: Aadcv1614K .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax, Central-2, Raipur (C.G.) ……""यथ" / Respondent

For Appellant: Shri R.B Doshi, CAFor Respondent: Dr. Priyanka Patel, Sr. DR
Section 131Section 132Section 153CSection 41(1)

books of account in the garb of unsecured loans in the mane of fictitious companies through a series of layering transactions using Kolkata based entry operators. Consequently, notices u/s 153C of the Act dt.15.12.2016 was issued to the assessee to file the return for the year under consideration. In response ... books of account in the form of unsecured loans in the mane of fictitious companies through a series of layering transactions using Kolkata based entry operators. Hence, the claim of the assessee that the Assessing Officer assessment proceedings u/s 153C of the Act was initiated without any satisfaction note

Vasudeo Real Estate Pvt. Ltd., Raipur vs. Assistant Commissioner of Income Tax, Central-2, Raipur

In the result, appeal of the assessee in ITA No

ITA 263/RPR/2025[2014-15]Status: DisposedITAT Raipur23 Jun 2025AY 2014-15

Bench: Shri Partha Sarathi Chaudhuryआयकर अपील सं./Ita Nos.261 To 265/Rpr/2025 "नधा"रण वष" /Assessment Years : 2012-13 To 2016-17 Basudeo Real Estate Private Limited Hira Arcade, First Floor, Near New Bus Stand, Pandri, Raipur-492 001 (C.G.) Pan: Aadcv1614K .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax, Central-2, Raipur (C.G.) ……""यथ" / Respondent

For Appellant: Shri R.B Doshi, CAFor Respondent: Dr. Priyanka Patel, Sr. DR
Section 131Section 132Section 153CSection 41(1)

books of account in the garb of unsecured loans in the mane of fictitious companies through a series of layering transactions using Kolkata based entry operators. Consequently, notices u/s 153C of the Act dt.15.12.2016 was issued to the assessee to file the return for the year under consideration. In response ... books of account in the form of unsecured loans in the mane of fictitious companies through a series of layering transactions using Kolkata based entry operators. Hence, the claim of the assessee that the Assessing Officer assessment proceedings u/s 153C of the Act was initiated without any satisfaction note

Vasudeo Real Estate Pvt Ltd., Raipur vs. Assistant Commissioner of Income Tax, Central-2, Raipur

In the result, appeal of the assessee in ITA No

ITA 262/RPR/2025[2013-14]Status: DisposedITAT Raipur23 Jun 2025AY 2013-14

Bench: Shri Partha Sarathi Chaudhuryआयकर अपील सं./Ita Nos.261 To 265/Rpr/2025 "नधा"रण वष" /Assessment Years : 2012-13 To 2016-17 Basudeo Real Estate Private Limited Hira Arcade, First Floor, Near New Bus Stand, Pandri, Raipur-492 001 (C.G.) Pan: Aadcv1614K .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax, Central-2, Raipur (C.G.) ……""यथ" / Respondent

For Appellant: Shri R.B Doshi, CAFor Respondent: Dr. Priyanka Patel, Sr. DR
Section 131Section 132Section 153CSection 41(1)

books of account in the garb of unsecured loans in the mane of fictitious companies through a series of layering transactions using Kolkata based entry operators. Consequently, notices u/s 153C of the Act dt.15.12.2016 was issued to the assessee to file the return for the year under consideration. In response ... books of account in the form of unsecured loans in the mane of fictitious companies through a series of layering transactions using Kolkata based entry operators. Hence, the claim of the assessee that the Assessing Officer assessment proceedings u/s 153C of the Act was initiated without any satisfaction note

Vasudeo Real Estate Pvt. Ltd., Raipur vs. Assistant Commissioner of Income Tax, Central-2, Raipur

In the result, appeal of the assessee in ITA No

ITA 261/RPR/2025[2012-13]Status: DisposedITAT Raipur23 Jun 2025AY 2012-13

Bench: Shri Partha Sarathi Chaudhuryआयकर अपील सं./Ita Nos.261 To 265/Rpr/2025 "नधा"रण वष" /Assessment Years : 2012-13 To 2016-17 Basudeo Real Estate Private Limited Hira Arcade, First Floor, Near New Bus Stand, Pandri, Raipur-492 001 (C.G.) Pan: Aadcv1614K .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax, Central-2, Raipur (C.G.) ……""यथ" / Respondent

For Appellant: Shri R.B Doshi, CAFor Respondent: Dr. Priyanka Patel, Sr. DR
Section 131Section 132Section 153CSection 41(1)

books of account in the garb of unsecured loans in the mane of fictitious companies through a series of layering transactions using Kolkata based entry operators. Consequently, notices u/s 153C of the Act dt.15.12.2016 was issued to the assessee to file the return for the year under consideration. In response ... books of account in the form of unsecured loans in the mane of fictitious companies through a series of layering transactions using Kolkata based entry operators. Hence, the claim of the assessee that the Assessing Officer assessment proceedings u/s 153C of the Act was initiated without any satisfaction note

Hansa Jitendra Haria, Jamnagar vs. Principal Commissioner of Income Tax, Jamnagar

In the result, the appeal of the assessee is dismissed

ITA 104/RJT/2024[2013-14]Status: DisposedITAT Rajkot20 Jun 2025AY 2013-14

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं./Ita No.104/Rjt/2024 ("नधा"रण वष" / Assessment Year: (2013-14) (Hybrid Hearing) Hansa Jitendra Haria Vs. Principal Commissioner Of 2, Oswal Colony, Near Rajendra Income Tax Balkrindagan, Jamnagar, Gujarat Jamnagar 361005. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aahph4309L (Assessee) (Respondent)

For Appellant: Shri Dhaval Shah, ARFor Respondent: Shri Sanjay Punglia, CIT. DR
Section 10(38)Section 147Section 263Section 69A

groups, in fact, they are of people of no means. (vi). Price escalation through synchronised trading within limited parties, mostly entities controlled by the entry operators. (vii). Statement recorded during search or survey operations conducted by the investigation wing clearly established the facts that price of the shares is manipulated ... such assessments or orders under section 263 The manipulative practice ITA No. 104/RJT/2024/AY.2013-14 Hansa Jitendra Haria vs. PCIT adopted by the stock brokers and entry operators was not even adverted to by the tribunal and the entire matter was dealt with in a very superficial manner without dwelling deep into

Y2K Fashions Private Limited, Mumbai vs. Dy, Commissioner of Income Tax -8(3)(2), Mumbai

The appeal of the assessee is allowed

ITA 3447/MUM/2024[2011-12]Status: DisposedITAT Mumbai19 Jun 2025AY 2011-12

Bench: Justice (Retd.) C V Bhadang & Ms Padmavathy S, Am

For Appellant: Shri Swapnil Choudhary, Sr.DR
Section 143(3)Section 234ASection 250Section 5Section 68

loan based on search conducted subsequently where these companies were found to be controlled by Shri Sirish C Shah who is an alleged bogus entry operator. While holding so, the AO has not considered the fact that the assessee has no outstanding balance payable to these companies and that

Mapss Fats and Proteins Private Limited, Raipur vs. Income Tax Officer, Ward 1(2), Raipur, Aaykar Bhawan Civil Lines

In the result, the appeal of the assessee is allowed for statistical purposes

ITA 246/RPR/2025[2009-10]Status: DisposedITAT Raipur18 Jun 2025AY 2009-10

Bench: Shri Partha Sarathi Chaudhuryआयकर अपील सं./Ita No.246/Rpr/2025 "नधा"रण वष" /Assessment Year : 2009-10 Mapss Fats & Proteins Private Limited Shanti Sadan, Chouby Colony, Raipur (C.G.)-492 001 Pan: Aafcm7263D .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer, Ward-1(2), Raipur (C.G.) ……""यथ" / Respondent

For Appellant: Shri Vikram Chhabda, CAFor Respondent: Dr. Priyanka Patel, Sr. DR
Section 131Section 133ASection 147Section 148

आयकर अपील"य अ"धकरण "यायपीठ “एक-सद"य” मामला रायपुर म" IN THE INCOME TAX APPELLATE TRIBUNAL RAIPUR BENCH

Dushyant Bhati, Noida vs. PCIT, Noida

In the result, the appeal of appellant/assessee is allowed

ITA 1914/DEL/2024[2013-14]Status: DisposedITAT Delhi18 Jun 2025AY 2013-14

Bench: Shri Shamim Yahya & Shri Vimal Kumar

For Appellant: Dr. Rakesh Gupta, Adv. Shri SomilFor Respondent: Ms. Pooja Swaroop CIT (DR)
Section 139Section 142(1)Section 143(2)Section 147Section 148Section 151Section 154BSection 263

Department. The ADIT, Inv. Unit 2(1), Delhi vide letter dated 14.01.2020 disseminated the information regarding the search action carried out on 18.11.2015 on entry operator Shri Pradeep Kumar Jindal who was providing accommodation entries in lieu of cash to large number of beneficiaries through non-descript companies managed

M/S. Super Shiv Shakti Minchem Pvt. Ltd., Jodhpur vs. ITO, Ward-3, Bhilwara

In the result, both the above appeals filed by the Assessee are dismissed

ITA 21/JODH/2018[2009-10]Status: DisposedITAT Jodhpur17 Jun 2025AY 2009-10

Bench: SHRI. LALIET KUMAR (Judicial Member), DR. MITHA LAL MEENA (Accountant Member)

For Appellant: Shri Goutam Chand Baid, C.AFor Respondent: Shri Karni Dan, Addl. CIT (Sr. D.R)
Section 147Section 148Section 6Section 68Section 69C

proceedings were validly initiated. The reasons recorded by the AO were based on specific, credible, and tangible material, including the statement of an identified entry operator, corroborated by details of transactions, amounts, and investor names. The AO is not expected to conclusively establish escapement of income at the stage ... entities from which the assessee purportedly received share application money were not independent investors acting on commercial prudence but were controlled by an admitted entry operator, who has provided detailed explanation of the modus operandi and specifically identified the assessee as a recipient of such 5 accommodation entries. The chain

M/S. Super Shiv Shakti Minchem Pvt. Ltd., Jodhpur vs. ITO, Ward-3, Bhilwara

In the result, both the above appeals filed by the Assessee are dismissed

ITA 20/JODH/2018[2008-09]Status: DisposedITAT Jodhpur17 Jun 2025AY 2008-09

Bench: SHRI. LALIET KUMAR (Judicial Member), DR. MITHA LAL MEENA (Accountant Member)

For Appellant: Shri Goutam Chand Baid, C.AFor Respondent: Shri Karni Dan, Addl. CIT (Sr. D.R)
Section 147Section 148Section 6Section 68Section 69C

proceedings were validly initiated. The reasons recorded by the AO were based on specific, credible, and tangible material, including the statement of an identified entry operator, corroborated by details of transactions, amounts, and investor names. The AO is not expected to conclusively establish escapement of income at the stage ... entities from which the assessee purportedly received share application money were not independent investors acting on commercial prudence but were controlled by an admitted entry operator, who has provided detailed explanation of the modus operandi and specifically identified the assessee as a recipient of such 5 accommodation entries. The chain

Asst. Commissioner of Income Tax, Central Circle-2(2), Hyderabad vs. Rithwik Projects Private Limited, Hyderabad

In the result, appeal filed by the Revenue is dismissed

ITA 533/HYD/2020[2011-12]Status: DisposedITAT Hyderabad16 Jun 2025AY 2011-12

Bench: Shri Vijay Pal Rao, Vice-A N D Shri Manjunatha, G.आ.अपी.सं /Ita No.533/Hyd/2020 (िनधा"रण वष"/Assessment Year: 2011-12) Acit Vs. Rithwik Projects (P) Ltd Central Circle 2(2) Hyderabad Hyderabad Pan:Aabcr5748L (Appellant) (Respondent) राज" व "ारा/Revenue By: Smt. U Mini Chandran, Cit(Dr) िनधा""रती "ारा/Assessee By: Shri P Murali Mohan Rao, Ca सुनवाई की तारीख/Date Of Hearing: 22/04/2025 घोषणा की तारीख/Pronouncement: 16P/06/2025 आदेश/Order Per Vijay Pal Raothis Appeal Filed By The Revenue Is Directed Against The Order Dated 27/07/2020 Of The Learned Cit (A)-12, Hyderabad, Relating To A.Y.2011-12. 2. The Revenue Has Raised The Following Grounds Of Appeal: “1. The Learned Cit (A) Erred Boith In Law & On Facts Of The Case. 2. The Learned Cit (A) Erred In Deleting The Addition Of Rs.5,00,00,000/- Towards Amount Received From M/S. Pacl India Ltd Stating That The Amount Received Was Towards Works Contract & The Assessee Had Offered Reasonable

For Appellant: Shri P Murali Mohan Rao, CAFor Respondent: Smt. U Mini Chandran, CIT(DR)
Section 143(3)Section 148Section 68

conducted on 10/02/2015 Page 9 of 19 ITA No 533 of 2020 Rithwik Projects P Ltd on Aakash Agarwal Group, a well known entry operator during which the statements of the Director of MIPL and TDPL were recorded by the Dy. Director of Income Tax (Inv.) Kolkata wherein these parties

Assistant Commissioner of Income Tax- 4(1)(1), Mumbai vs. Ankur Agrawal, Mumbai

In the result, both the appeals filed by the Assessee are allowed

ITA 5179/MUM/2024[2012-13]Status: DisposedITAT Mumbai16 Jun 2025AY 2012-13

Bench: Shri Sandeep Gosain, () & Shri Prabhash Shankar, ()

Section 10(38)Section 250Section 68

called Exit-providers got the required fund to purchase the shares from the Appellant. The AO even has not examined any of the entry operators and also AO had no material to prove that any unaccounted money has been flown to the account of so-called Exit providers

ACIT, Circle, Mumbai, Piramal Chamber vs. Abhishek Rajendrakumar Mundra, Mumbai

In the result, the appeal of the revenue is dismissed

ITA 3929/MUM/2024[2016-17]Status: DisposedITAT Mumbai16 Jun 2025AY 2016-17

Bench: Shri Sandeep Gosain & Shri Prabhash Shankarआयकर अपील सुं./Ita No. 3929/Mum/2024 (नििाारण वर्ा / Assessment Year :2016-17) Acit, Circle, Mumbai V/S. Abhishek Rajendrakumar 601, 6Th Floor, Piramal बिाम Mundra Chambers, Lalbaug, Parel, C-28, Ameya Building, Mumbai-400012 Behind Ymca, Dn Nagar, Po Azad Nagar, Andheri West, Mumbai-400053 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aacpm5067H Appellant/अपीलार्थी .. Respondent/प्रनिवादी प्रनि आपत्ति सुं./ Co No. 100/Mum/2025 (Arising Out Of Ita No. 3929/Mum/2024) (नििाारण वर्ा / Assessment Year :2016-17) Abhishek Rajendrakumar V/S. Acit, Circle, Mumbai बिाम Mundra 601, 6Th Floor, Piramal C-28, Ameya Building, Chambers, Lalbaug, Parel, Behind Ymca, Dn Nagar, Mumbai-400012 Po Azad Nagar, Andheri West, Mumbai-400053 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aacpm5067H Appellant/अपीलार्थी .. Respondent/प्रनिवादी निर्ााररती की ओर से /Assessee By: Shri Vimal Punmiya राजस्व की ओर से /Revenue By: Shri Aditya Rai, Sr. Dr

For Appellant: Shri Vimal PunmiyaFor Respondent: Shri Aditya Rai, Sr. DR
Section 250Section 68

confirming P a g e | 3 ITA No. 3929/Mum/2024 & CO No. 100/Mum/2025 AY 2016-17 Abhishek Rajendrakumar Mundra that the scrip is utilized by entry operators for providing accommodation entries under the garb of Long Term Capital Gain/Short Term Capital Gain Loss by manipulating/rigging up the share price