“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

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

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

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

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

Vinipul Inorganics Foods Pvt Ltd, Chembur, Mumbai vs. Income Tax Officer Ward 14 (3) (2), Mumbai, Maharshi Karve Road

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

ITA 2509/MUM/2023[2009-10]Status: DisposedITAT Mumbai21 Dec 2023AY 2009-10

Bench: Sh.Narendra Kumar Choudhry () & Shri S Rifaur Rahman ()

Section 131Section 143(1)Section 143(3)Section 147Section 148Section 250Section 254Section 69C

beneficiaries of these bogus entries of 8 ITAs 2509 & 2510/Mum/2023 Vinipul Inorganics Foods Pvt Ltd sale of material by these 28 hawala entry operators in favour of the assessee to the tune of Rs.2,39,83,261/- , wherein the assessee made alleged bogus purchases to the tune of Rs.2 ... material was in- fact purchased from grey market at a lower rate and to cover deficiencies in record, the invoices were procured from these entry operators to reduce the profit. It was also considered that there will be savings on account of taxes while procuring material from grey market

Naz Shazia, Moradabad vs. ITO-17(2)(4), Mumbai

ITA 2170/MUM/2023[2015-16]Status: DisposedITAT Mumbai21 Dec 2023AY 2015-16

Bench: Shri Aby T. Varkey, Jm & Shri S Rifaur Rahman, Am आयकर अपील सं/ I.T.A. No.2170/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2015-16) Naz Shazia बिधम/ The Income Tax Officer- Anwar House, Ground 17(2)(4) Vs. Floor, Pandit Nagla Mini 1St Floor, Ayakar Bhavan, Bye Pass Road, Pandit M. K. Road, Mumbai- Nagla, Moradabad, Uttar 400020. Pradesh-244001. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Bbwps2176R (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Fenil Bhatt Revenue By: Shri Ashok Kumar Ambastha (Sr. Ar) सुनवाई की तारीख / Date Of Hearing: 05/12/2023 घोषणा की तारीख /Date Of Pronouncement: 21/12/2023 आदेश / O R D E R Per Aby T. Varkey, Jm: This Is An Appeal Preferred By The Assessee Against The Order Of The Ld. Commissioner Of Income Tax (Appeals)/(Nfac), Delhi Dated 03.05.2023 For The Assessment Year 2015-16. 2. The Main Grievance Of The Assessee Is Against The Action Of The Ld. Cit(A)/Nfac Confirming The Addition Of Rs.1,94,05,886/- U/S 68 Of The Income Tax Act, 1961 (Hereinafter “The Act”) Being The Amount Of Long Term Capital Gain (Ltcg) On Transfer Of Shares In M/S. Esteem Bio Organic Food Processing Ltd. (Hereinafter “M/S. Esteem Bio”) Claimed As Exempt Income U/S 10(38) Of The Act.

For Appellant: Shri Fenil BhattFor Respondent: Shri Ashok Kumar Ambastha (Sr

Section 10(38)Section 2Section 68

order of AO are relevant for drawing adverse inference against the assessee. The Ld AR submits that the appellant had never transacted with any entry operator or such intermediary in the process of carrying out investments and further that the alleged operators and their records do not in any manner

Shivalik Educational & Placement Services Pvt Ltd, Faridabad vs. ACIT Central Circle-13, New Delhi

In the result, the appeal of the assessee is allowed

ITA 3207/DEL/2019[2015-16]Status: DisposedITAT Delhi21 Dec 2023AY 2015-16

Bench: SHRI M. BALAGANESH (Accountant Member), SHRI YOGESH KUMAR U.S. (Judicial Member)

Section 143(2)Section 143(3)Section 14ASection 234BSection 36Section 68Section 69C

inferred that assessee company has saken bogus joans in lieu of cash for routing unaccounted income in its books of account from established entry operators Sh. Deepak Agarwal and Sh. Mukesh Kumar who were utilizing several companies for providing accommodation entries including above mentioned company, traces of which are also ... loans were noting but accommodation entries provided to the assessee company by the established entry providers directly or through layers on which normally accommodation entry operators charged commission @2%. Therefore, the assessee company has made unaccounted expenditure of an amount of Rs. 11,52,000/- (2% of Rs.5

Sunil Ghorawat, New Delhi vs. ACIT Circle-9(2), New Delhi

In the result, the appeal of the assessee is allowed

ITA 6382/DEL/2019[2013-14]Status: DisposedITAT Delhi20 Dec 2023AY 2013-14

Bench: Shri M. Balaganesh & Shri Anubhav Sharmash. Sunil Ghorawat, Vs. Acit, G-73, 2Nd Floor, Lajpat Circle-9(2), Nagar-1, New Delhi New Delhi (Appellant) (Respondent) Pan: Acspg7932M

For Appellant: Dr. Rakesh Gupta, AdvFor Respondent: Shri Anuj Garg, Sr. DR

Section 143(3)

observed that the price have been artificially rigged by way of upward trend and downward trend by prearranged transaction in connivance with certain entry operators. 4. It would be relevant to address the primary and basic facts first. The assessee purchased 50,000 shares of M/s. Blue Circle Services ... above, to understand the fact and also ascertain as to whether the assessee per se was involved in artificial price rigging in connivance with entry operators for buying bogus short term capital loss. This was admittedly not done by the ld AO and the AO merely relied on the information

Sh. Ashok Kumar Porwal, Jhalawar vs. JCIT, Range-1, Kota

In the result, appeal of the assessee is partly allowed

ITA 572/JPR/2023[2010-11]Status: DisposedITAT Jaipur19 Dec 2023AY 2010-11

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Sh. P. C. Parwal (CA)For Respondent: Smt Monisha Chaudhary (Addl. CIT)

Section 133(6)Section 147Section 269SSection 271D

time. Also, even larger amounts are deposited in the banks with PAN numbers of individuals who are mostly illiterate and work for these entry operators for small salary or commission. 1. The transactions were in accommodation nature. The reason behind the said transactions was to avoid bank charges (Expenses

Super Connections India (P) Ltd., Delhi vs. DCIT, Central Circle-2, Gurgaon

In the result, ground no. 7 to10 of the assessee’s appeal of the assessee are allowed and the aggregate addition of Rs

ITA 7666/DEL/2019[2014-15]Status: DisposedITAT Delhi18 Dec 2023AY 2014-15

Bench: SHRI SHAMIM YAHYA (Accountant Member), SHRI CHALLA NAGENDRA PRASAD (Judicial Member)

For Appellant: Shri Rakesh Gupta, AdvocateFor Respondent: Shri H.K. Choudhary, CIT DR

Section 132Section 145(3)Section 153CSection 153DSection 234B

commission/brokerage for providing entries for bogus purchases by M/s Orient Craft Ltd. In view of the general practice as seen in the case of entry operators, the commission/brokerage paid to the appellant company is estimated at 5% and addition of Rs.89,36,421/- to the business income of the appellant

Super Connections India (P) Ltd., Delhi vs. DCIT, Central Circle-2, Gurgaon

In the result, ground no. 7 to10 of the assessee’s appeal of the assessee are allowed and the aggregate addition of Rs

ITA 7665/DEL/2019[2013-14]Status: DisposedITAT Delhi18 Dec 2023AY 2013-14

Bench: SHRI SHAMIM YAHYA (Accountant Member), SHRI CHALLA NAGENDRA PRASAD (Judicial Member)

For Appellant: Shri Rakesh Gupta, AdvocateFor Respondent: Shri H.K. Choudhary, CIT DR

Section 132Section 145(3)Section 153CSection 153DSection 234B

Amit Goyal HUF, Jaipur vs. ITO Ward 2(3), Jaipur

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

ITA 437/JPR/2023[2015-16]Status: DisposedITAT Jaipur18 Dec 2023AY 2015-16

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri Harshit Agrawal (C.A.)For Respondent: Smt. Monisha Choudhary ( Addl. CIT)

Section 10(38)Section 68

dealt with these penny stocks who were targeted. It is equally true invariably in all cases, the statement of the stock brokers, the entry operators or the Directors of the various penny stock companies does not directly implicate the assessee. If such being the situation, the assessee cannot be heard ... cases the assessee has been made known of the statement of the Director of the penny stock company or the stock broker, entry operator despite which those assessees could not make any headway. While on this issue, we need to consider as to whether and under what circumstances the right

Income Tax Officer, Ward-2(3)(6), Surat, Anavil Business Centre vs. Sunilkumar, Devratna Apartment

In the result the ground No

ITA 539/SRT/2023[2008-2009]Status: DisposedITAT Surat14 Dec 2023AY 2008-2009

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita No.539/Srt/2023 Assessment Year: (2008-09) (Physical Hearing) The Ito, Vs. Sunilkumar Parasmal Jain, Ward-2(3)(6), 503, Gokul Apartment, Devidas Surat Pipla Sheri, Mahidharpura, Surat – 395003. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Abypj2281P (Appellant) (Respondent) Appellant By Shri Ashish Pophare, Cit-Dr None Respondent By 29/11/2023 Date Of Hearing Date Of Pronouncement 14/12/2023

Section 147

against the reopening held that the AO has received report from investigation wing Mumbai, which indicate that the assessee is beneficiary of the accommodation entry operators. The accommodation entry provider admitted before investigation wing that he has given such entry to various persons; based on such report ... accommodation entries, held that where after scrutiny assessment the assessing officer received information from the ITA.539/SRT/2023/AY.2008-09 Sunilkumar Parasmal Jain investigation wing that well known entry operators of the country provided bogus entries to various beneficiaries, and assessee was one of such beneficiary, assessing officer was justified in re-opening assessment

Ajay Malshi Dedhia, Mumbai vs. ACIT 31(1), Mumbai

In the result, appeal filed by assessee is allowed for statistical purposes

ITA 2924/MUM/2023[2014-15]Status: DisposedITAT Mumbai12 Dec 2023AY 2014-15

Bench: Vikas Awasthy, Jm & Ms Padmavathy S, Am

For Appellant: Shri Manoj Kumar Sinha, Sr. DR

Section 132(4)Section 44ASection 68

based on statements recorded under section 132(4) from one Shri Bhanwarlal Jain and Shri Rajendra Jain who have stated that they are entry operators providing accommodation entries and that one of the beneficiaries is a proprietary concern operated by the assessee. We also noticed that the AO after perusing

A.S.Motiwala Jewellers Private Limited, Mumbai vs. ITO 12(2)(1), Mumbai

In the result, both the appeals are, accordingly, disposed of

ITA 2773/MUM/2023[2013-14]Status: DisposedITAT Mumbai12 Dec 2023AY 2013-14

Bench: Shri Aby T. Varkey, Jm & Shri Gagan Goyal, Am आयकर अपील सं/ I.T.A. No.2773/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2013-14) As Motiwala Jewellers Pvt. बिधम/ Ito-12(2)(1) Ltd. Aayakar Bhavan, Vs. (Formerly Known As Ghazi Mumbai-400020. Gems & Jewellers Pvt. Ltd) 40 Rebello Road Bandra West, Mumbai-400050. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaecg8165B (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Nishit Gandhi/Ms Madhuri Tambe Revenue By: Shri Ashok Kumar Ambastha (Sr. Ar) सुनवाई की तारीख / Date Of Hearing: 04/12/2023 घोषणा की तारीख /Date Of Pronouncement: 12/12/2023 आदेश / O R D E R Per Aby T. Varkey, Jm: This Is An Appeal Preferred By The Assessee Against The Order Of The Ld. Commissioner Of Income Tax (Appeals)/(Nfac), Delhi Dated 14.06.2023 For The Assessment Year 2013-14. 2. At The Outset, The Ld. Ar Of The Assessee, Assails The Action Of The Ld. Cit(A) Sustaining The Addition On Merits, To The Tune Of Rs.59,53,440/- U/S 69C Of The Income Tax Act, 1961 (Hereinafter “The Act”). In Other Words, Assessee Assails The Action Of Ld Cit(A) Upholding The Action Of Ao, Wherein He Disallowed The Entire Purchases Of Diamonds Made From M/S. Mohit Enterprises (Alleged Concern Of Shri Bhanwarlal Jain Group).

For Appellant: Shri Nishit Gandhi/Ms MadhuriFor Respondent: Shri Ashok Kumar Ambastha (Sr

Section 147Section 148Section 69C

action of re-opening the assessment. According to the AO, he received information that from the Investigation Wing, Mumbai that Shri Bhanwarlal Jain (known entry operator) was managing and controlling M/s. Mohit Enterprises from which concern, the assessee has shown to have transacted/purchased diamonds worth of Rs.59,53,440/- which ... Mohit Enterprises, which AO alleges to be bogus, since M/s. Mohit Enterprises was a concern run by Shri Bhawarlal Jain Group a known entry operator. According to the AO, Shri Bhawarlal Jain Group of concerns were involved in providing bogus accommodation bills in lieu of commission which fact has been

Income Tax Officer-5(1)(1), Mumbai vs. M/S. Flagship Housing Development P. Ltd.( Formerly Known As M/S. Absolute Building Company Private Limited, Mumbai

In the result, appeal of the Revenue is dismissed

ITA 4642/MUM/2017[2007-08]Status: DisposedITAT Mumbai11 Dec 2023AY 2007-08

Section 143(1)Section 143(3)Section 147Section 148Section 68

this case, first of all 8 of the entities who subscribed to preference shares belong to Shri Praveen Kumar Jain group which were established entry operator and not only that, even the notices sent through post to the companies u/s. 133(6) remain uncomplied with. Further, assessee did not provide

Kaustubh Gupta, Meerut vs. Pr. CIT, Ghaziabad

In the result, appeal is allowed

ITA 1125/DEL/2022[2017-18]Status: DisposedITAT Delhi07 Dec 2023AY 2017-18

Bench: Shri Saktijit Dey, Vice- & Shri M. Balaganeshassessment Year: 2017-18 Kaustubh Gupta, 412/3, Versus Pr. C.I.T., Mangal Pandey Nagar, Ghaziabad. Meerut. Pan: Aabcs3651B (Appellant) (Respondent) Assessee By: Sh. Sanjeev Sapra, C.A. Revenue By: Sh. Waseem Arshad, Cit/Dr Date Of Hearing : 28.11.2023 Date Of Pronouncement: 07.12.2023 Order Per Saktijit Dey, Vice-

For Appellant: Sh. Sanjeev Sapra, C.AFor Respondent: Sh. Waseem Arshad, CIT/DR

Section 142(1)Section 143(3)Section 263

after completion of assessment, deep enquiries revealed that the share transactions are not genuine, as the shares were purchased from the stock market by entry operator. She observed that the assessee never purchased the shares and such shares were received in the de-mat account of the beneficiary ... market transfers using account controlled and managed by entry operator. Based upon aforesaid analysis of facts, learned PCIT formed an opinion that the assessment order is erroneous and prejudicial to the 4 interest of the Revenue requiring exercise of revisionary jurisdiction under section 263 of the Act. Accordingly, she issued

Shri Rajender Agarwal, Delhi vs. ACIT, CC-5, New Delhi

In the result the appeal of the assessee in ITA No

ITA 2631/DEL/2019[2014-15]Status: DisposedITAT Delhi05 Dec 2023AY 2014-15

Bench: Shri N.K. Billaiya & Ms Astha Chandra

For Appellant: Shri Vinod Bindal, CAFor Respondent: Shri Vivek Vardhan, Sr. DR

Section 143(1)Section 143(3)Section 153ASection 153C

have unearthed a big scam of bogus LTCG/Loss to the tune of Rs.38 thousand Crores. In this enquiry, they have found large no of entry operators, promoters of bogus companies which has been named: as .jama kharchi companies, involved this scam. These brokers/promoters' of the companies were rigging the prices ... high/ low prices. The cash trail of the cash received from the beneficiaries has also been detected by the department in some cases. The entry operators have created thousands of companies to make payments and have used multi layering of the payment so as to avoid to detection

Hanuman Khedaria HUF, Rourkela vs. ITO Ward 2, Rourkela

In the result, appeal of the assessee stands allowed

ITA 275/CTK/2023[ASST. YEAR 2014-15]Status: DisposedITAT Cuttack01 Dec 2023

Bench: Before S/Shri George Mathan, Judicial & Rajesh Kumarassessment Year : 2014-15 Hanuman Khedaria (Huf), Hanuman Khedaria (Huf), Vs. Ito, Ward Ito, Ward-2, Rourkela. C/O. Kadmawala & Co., Ca, C/O. Kadmawala & Co., Ca, Budhram Budhram Oram Oram Market, Market, Kachery Road, Rourkela. Kachery Road, Rourkela. Pan/Gir No. Pan/Gir No. (Appellant) ) .. ( Respondent Respondent) Assessee By : Shri M.R.Sahu, Ca .R.Sahu, Ca Revenue By : Shri Charan Dass, Sr. Shri Charan Dass, Sr. Dr Date Of Hearing : 01/12 12/2023 Date Of Pronouncement : 01/12 Date Of Pronouncement : 01/12/2023 O R D E R Per Bench

For Appellant: Shri M.R.Sahu, CAFor Respondent: Shri Charan Dass, Sr

Section 131

Year : 2014-15 cross examine Shri Sanjay Vora and the same was denied by the Assessing Officer on the ground that the share brokers, entry operators, promoters of the company, exit providers, etc had appeared before the I.T. authorities and their sworn statements had been recorded on oath ... upheld. 6. We have considered the rival submissions. At the outset, the claim of the Revenue that a statement has been recorded from entry operator by the DDIT (Investigation) Kolkata and the statement is under oath and the same has not been withdrawn and, therefore, opportunity of cross examination

Mohinder Kumar Garg, New Delhi vs. DCIT Central Circle-II, Gurgaon

In the result, the appeals of the Assessee are allowed

ITA 7673/DEL/2019[2014-15]Status: DisposedITAT Delhi30 Nov 2023AY 2014-15

Bench: Shri Narendra Kumar Billaiya & Shri Anubhav Sharma

For Appellant: Dr. Rakesh Gupta, Advocate &For Respondent: Sh. Subhra Jyoti Chakraborty, CIT, DR

Section 153A

have been paid commission/brokerage for providing entries for bogus job work expenses. In view of the general practice as seen in the case of entry operators, the commission/brokerage paid to the appellant is estimated at 5% and addition of Rs. 25,66,410/- to the business income of appellant

Mohinder Kumar Garg, New Delhi vs. DCIT Central Circle-II, Gurgaon

In the result, the appeals of the Assessee are allowed

ITA 7672/DEL/2019[2013-14]Status: DisposedITAT Delhi30 Nov 2023AY 2013-14

Bench: Shri Narendra Kumar Billaiya & Shri Anubhav Sharma

For Appellant: Dr. Rakesh Gupta, Advocate &For Respondent: Sh. Subhra Jyoti Chakraborty, CIT, DR

Section 153A

Nahta Trading Co., Jhalawar vs. ITO Ward Jhalawar, Jhalawar

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

ITA 449/JPR/2023[2013-14]Status: DisposedITAT Jaipur30 Nov 2023AY 2013-14

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri Devang Gargieya (Adv. )For Respondent: Smt. Monisha Choudhary (Addl. CIT)

Section 142Section 147Section 148Section 234A

company. such penny Mack. 5.10 The investigation conducted by the Department identified M/s Shreenath Ltd. as a company which has been used by the entry operators to provide accommodation entries to various persons by artificially inflating the share price of the company through circular trading. M/s Shreenath

Jitendra Udaylal Jain, Mumbai vs. National Faceless Assessment Centre, Delhi

In the result, appeals filed by the assessee is allowed

ITA 2042/MUM/2023[2012-2013]Status: DisposedITAT Mumbai24 Nov 2023AY 2012-2013

Bench: Shri Narender Kumar Choudhry, Hon’Ble & Shri S. Rifaur Rahman, Hon'Blejitendra Udaylal Jain V. National Faceless Assessment Centre(Nfac) C/O. M/S. Alankar Jewellers Shop Delhi No.1 Municipal Building R.A. Kidwai Road, Wadala Mumbai- 400037 Pan: Aabpj5480E (Appellant) (Respondent) Assessee Represented By : Shri. Vimal Punmiya Department Represented By : Shri. Ujjawal Kumar Chavan

Section 10(38)Section 131Section 143(2)Section 148Section 250

establishes the direct relationship with the transactions. Page No. 4 Jitendra Udaylal Jain He heavily relied on the various statements recorded by the various entry operators, brokers and exit operators, the Assessing Officer confirmed the addition by adding the sale proceeds of shares under section ... Ld.AR of the assessee submitted that Assessing Officer on the basis of irrelevant materials and statement recorded on oath of Mr.Amar Chand Rander Entry Operator of M/s. Rander Corporation Ltd., wherein he has admitted of being a bogus entry provider and has provided bogus entry, the Sale consideration shown

Sulochana Godhwani, Mumbai vs. Income Tax Officer-10(3)(3), Mumbai

In the result, appeal filed by the Assessee stands allowed

ITA 2245/MUM/2023[2009-2010]Status: DisposedITAT Mumbai23 Nov 2023AY 2009-2010

Bench: Shri.Narender Kumar Choudhry ()

Section 133(6)Section 143(1)Section 147Section 148Section 250Section 68

agreement with the 18. submissions of the assessee’s counsel. We note that 6 ITA 2245/Mum/2023 Sulochana Godhwani except for the statement of the entry operator which was also retracted the addition made by the authorities below is devoid of cogent material. In this regard we note that in similar