“entry operator”

Kamla Landmarc Infra, Mumbai vs. DCIT(3)(4) Central Circle, Mumbai

In the result, the appeals of the assessee for AYs 2008-09,

Bench: Shri Aby T. Varkey, Jm & Shri Gagan Goyal, Am आयकर अपील सं/ I.T.A. Nos. 1626 To 1632/Mum/2019 (निर्धारण वर्ा / Assessment Years:2008-09 To 2014-15) Kamla Landmarc Infra बिधम/ Dcit, Central Circle-3(4) 19Th Floor, Air India Ground Floor, Shanti Vimal, P. Vs. M. Road, Vile Parle East, Building, Nariman Point, Mumbai-400057. Mumbai-400021. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aahfk9340C (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Rashmikant Modi Ms. Ketki Rajeshirke Revenue By: Shri Vinay Sinha (Dr) सुनवाई की तारीख / Date Of Hearing: 15/07/2022 घोषणा की तारीख /Date Of Pronouncement: 30/08/2022 आदेश / O R D E R Per Bench These Appeals Preferred By The Assessee Are Against The Common Order Of The Ld. Commissioner Of Income Tax (Appeals)-51, Mumbai [Hereinafter In Short “Ld. Cit(A)”] Dated 10.01.2019 For A.Y. 2008- 09 To Ay. 2014-15. Since Issues Involved Are Common, All The Appeals For All The Assessment Year/Years (Hereinafter Referred To As “Ay”) Were Heard Together. Both The Parties Also Argued Them Together Raising Similar Arguments On These Issues. Accordingly, For The Sake Of Convenience & Brevity, We Dispose All The Appeals By This Consolidated Order. 2. Before We Advert To The Grounds Taken In The Cross Appeals, It Would First Be Relevant To Cull Out The Basic Facts Of The Case & Effect Of Law In Brief In Respect Of Certain Ay’S. The Assessee Is A Primarily

order and after analyzing the parties from whom assessee had taken unsecured loans came to the conclusion that these lenders are mere entry operators who are giving accommodation entries for purchases/sale, unsecured loans advances etc. After examining the financials and credentials of these loan creditors, the AO recorded his comments ... paid interest thereon, vide letter dated 18-03-2016. In the said letter the assessee had also sought cross examination of the so-called entry operators based on whose statements, admission was extracted under duress from Shri Jitendra Jain. Taking note of the submissions put forth by the assessee

Kamla Landmarc Infra, Mumbai vs. DCIT (3)(4) Central Circle, Mumbai

In the result, the appeals of the assessee for AYs 2008-09,

Bench: Shri Aby T. Varkey, Jm & Shri Gagan Goyal, Am आयकर अपील सं/ I.T.A. Nos. 1626 To 1632/Mum/2019 (निर्धारण वर्ा / Assessment Years:2008-09 To 2014-15) Kamla Landmarc Infra बिधम/ Dcit, Central Circle-3(4) 19Th Floor, Air India Ground Floor, Shanti Vimal, P. Vs. M. Road, Vile Parle East, Building, Nariman Point, Mumbai-400057. Mumbai-400021. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aahfk9340C (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Rashmikant Modi Ms. Ketki Rajeshirke Revenue By: Shri Vinay Sinha (Dr) सुनवाई की तारीख / Date Of Hearing: 15/07/2022 घोषणा की तारीख /Date Of Pronouncement: 30/08/2022 आदेश / O R D E R Per Bench These Appeals Preferred By The Assessee Are Against The Common Order Of The Ld. Commissioner Of Income Tax (Appeals)-51, Mumbai [Hereinafter In Short “Ld. Cit(A)”] Dated 10.01.2019 For A.Y. 2008- 09 To Ay. 2014-15. Since Issues Involved Are Common, All The Appeals For All The Assessment Year/Years (Hereinafter Referred To As “Ay”) Were Heard Together. Both The Parties Also Argued Them Together Raising Similar Arguments On These Issues. Accordingly, For The Sake Of Convenience & Brevity, We Dispose All The Appeals By This Consolidated Order. 2. Before We Advert To The Grounds Taken In The Cross Appeals, It Would First Be Relevant To Cull Out The Basic Facts Of The Case & Effect Of Law In Brief In Respect Of Certain Ay’S. The Assessee Is A Primarily

order and after analyzing the parties from whom assessee had taken unsecured loans came to the conclusion that these lenders are mere entry operators who are giving accommodation entries for purchases/sale, unsecured loans advances etc. After examining the financials and credentials of these loan creditors, the AO recorded his comments ... paid interest thereon, vide letter dated 18-03-2016. In the said letter the assessee had also sought cross examination of the so-called entry operators based on whose statements, admission was extracted under duress from Shri Jitendra Jain. Taking note of the submissions put forth by the assessee

Kamla Park Developers, Mumbai vs. DCIT (3)(4) Central Circle, Mumbai

In the result, the appeals of the assessee for AYs 2009-10,

Bench: Shri Aby T. Varkey, Jm & Shri Gagan Goyal, Am आयकर अपील सं/ I.T.A. Nos. 1616 To 1618 & 1620 To 1621/Mum/2019 (निर्धारण वर्ा / Assessment Years:2009-10 To 2011-12, 2013-14 & 2014-15) Kamla Park Developers बनाम/ Dcit, Central Circle-3(4) 19Th Floor, Air India Ground Floor, Shanti Vimal, P. Vs. M. Road, Vile Parle East, Building, Nariman Point, Mumbai-400057. Mumbai-400021. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aahfk7627G (अपीलधथी /Appellant) (प्रत्यथी / Respondent) .. Assessee By: Shri Rashmikant Modi Ms. Ketki Rajeshirke Revenue By: Shri Vinay Sinha (Dr) सुिवधई की तधरीख / Date Of Hearing: 15/07/2022 घोर्णध की तधरीख /Date Of Pronouncement: 30/08/2022 आदेश / O R D E R Per Bench These Appeals Preferred By The Assessee Are Against The Orders Of The Ld. Commissioner Of Income Tax (Appeals)-51, Mumbai [Hereinafter In Short “Ld. Cit(A)”] Dated 07.01.2019 For A.Y. 2009-10 To 2011-12, 2013-14 & 2014-15. Since Issues Involved Are Common, All The Appeals For All The Assessment Year/Years (Hereinafter Referred To As “Ay”) Were Heard Together. Both The Parties Also Argued Them Together Raising Similar Arguments On These Issues. Accordingly, For The Sake Of Convenience & Brevity, We Dispose All The Appeals By This Consolidated Order.

order and after analyzing the parties from whom assessee had taken unsecured loans came to the conclusion that these lenders are mere entry operators who are giving accommodation entries for purchases/sale, unsecured loans advances etc. After examining the financials and credentials of these loan creditors, the AO recorded his comments ... paid interest thereon, vide letter dated 18-03-2016. In the said letter the assessee had also sought cross examination of the so-called entry operators based on whose statements, admission was extracted under duress from Shri Jitendra Jain. Taking note of the submissions put forth by the assessee

Kamla Park Developers, Mumbai vs. DCIT (3)(4) Central Circle, Mumbai

In the result, the appeals of the assessee for AYs 2009-10,

Bench: Shri Aby T. Varkey, Jm & Shri Gagan Goyal, Am आयकर अपील सं/ I.T.A. Nos. 1616 To 1618 & 1620 To 1621/Mum/2019 (निर्धारण वर्ा / Assessment Years:2009-10 To 2011-12, 2013-14 & 2014-15) Kamla Park Developers बनाम/ Dcit, Central Circle-3(4) 19Th Floor, Air India Ground Floor, Shanti Vimal, P. Vs. M. Road, Vile Parle East, Building, Nariman Point, Mumbai-400057. Mumbai-400021. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aahfk7627G (अपीलधथी /Appellant) (प्रत्यथी / Respondent) .. Assessee By: Shri Rashmikant Modi Ms. Ketki Rajeshirke Revenue By: Shri Vinay Sinha (Dr) सुिवधई की तधरीख / Date Of Hearing: 15/07/2022 घोर्णध की तधरीख /Date Of Pronouncement: 30/08/2022 आदेश / O R D E R Per Bench These Appeals Preferred By The Assessee Are Against The Orders Of The Ld. Commissioner Of Income Tax (Appeals)-51, Mumbai [Hereinafter In Short “Ld. Cit(A)”] Dated 07.01.2019 For A.Y. 2009-10 To 2011-12, 2013-14 & 2014-15. Since Issues Involved Are Common, All The Appeals For All The Assessment Year/Years (Hereinafter Referred To As “Ay”) Were Heard Together. Both The Parties Also Argued Them Together Raising Similar Arguments On These Issues. Accordingly, For The Sake Of Convenience & Brevity, We Dispose All The Appeals By This Consolidated Order.

order and after analyzing the parties from whom assessee had taken unsecured loans came to the conclusion that these lenders are mere entry operators who are giving accommodation entries for purchases/sale, unsecured loans advances etc. After examining the financials and credentials of these loan creditors, the AO recorded his comments ... paid interest thereon, vide letter dated 18-03-2016. In the said letter the assessee had also sought cross examination of the so-called entry operators based on whose statements, admission was extracted under duress from Shri Jitendra Jain. Taking note of the submissions put forth by the assessee

Kamla Landmarc Estate, Mumbai vs. DCIT(3)(4) Central Circle, Mumbai

In the result, the appeal of the assessee for AY 2008-09 is allowed and the appeal of the assessee for AY 2012-13 is allowed for statistical purposes

Bench: Shri Aby T. Varkey, Jm & Shri Gagan Goyal, Am आयकरअपीलसं/ I.T.A. Nos.1608 & 1612/Mum/2019 (निर्धारणवर्ा / Assessment Years:2008-09 & 2012-13) Kamlalandmarc Estate बनाम/ Dcit, Central Circle-3(4) Ground Floor, Shanti Vimal, P. 19Th Floor, Air India Vs. M. Road, Vile Parle East, Building, Nariman Point, Mumbai-400021. Mumbai-400057. स्थधयीलेखधसं./जीआइआरसं./Pan/Gir No. :Aaifk1567A (अपीलधथी /Appellant) .. (प्रत्यथी / Respondent) Shri Rashmikant Modi Assessee By: Ms. Ketki Rajeshirke Revenue By: Shri Vinay Sinha(Dr) सुिवधईकीतधरीख / Date Of Hearing: 15/07/2022 घोर्णधकीतधरीख /Date Of Pronouncement: 30/08/2022 आदेश / O R D E R Per Bench These Appeals Preferred By The Assessee Are Against The Orders Of The Ld. Commissioner Of Income Tax (Appeals)-51, Mumbai [Hereinafter In Short “Ld. Cit(A)”] Dated 07-01-2019 For A.Ys. 2008- 09 & Ay. 2012-13. Since Issues Involved Are Common, Both These Appeals For The Two Assessment Year/Years (Hereinafter Referred To As “Ay”) Were Heard Together. Both The Parties Also Argued Them Together Raising Similar Arguments On These Issues. Accordingly, For The Sake Of Convenience & Brevity, We Dispose These Appeals By This Consolidated Order.

order and after analysing the parties from whom assessee had taken unsecured loans came to the conclusion that these lenders are mere entry operators who are giving accommodation entries for purchases/sale, unsecured loans advances etc. After examining the financials and credentials of these loan creditors, the AO recorded his comments ... vide letters dated 07-03-2016 & 18-03-2016. In the said letters the assessee had also sought cross examination of the so- called entry operators based on whose statements, admission was extracted under duress from Shri Jitendra Jain. Taking note of the A.Ys. 2008-09 & 2012-13 KamlaLandmarc Estate

Kamlashri Builders, Mumbai vs. DCIT -CC- 3(4), Mumbai

In the result, the appeals of the assessee for AYs 2008-09, 2009-10, 2010-

Bench: Shri Aby T Varkey & Shri Gagan Goyal

paid interest thereon, vide letter dated 18-03-2016. In the said letter the assessee had also sought cross examination of the so-called entry operators based on whose statements, admission was extracted under duress from Shri Jitendra Jain. Taking note of the submissions put forth by the assessee ... from the present case. According to the Revenue, since the statement of the Director, Shri Jitendra Jain was also corroborated by the statements of entry operators, it was indeed incriminating enough to justify the additions made by the AO. 10. We have heard both the parties, perused the details, documents

Kamlashri Builders, Mumbai vs. DCIT -CC- 3(4), Mumbai

In the result, the appeals of the assessee for AYs 2008-09, 2009-10, 2010-

Bench: Shri Aby T Varkey & Shri Gagan Goyal

paid interest thereon, vide letter dated 18-03-2016. In the said letter the assessee had also sought cross examination of the so-called entry operators based on whose statements, admission was extracted under duress from Shri Jitendra Jain. Taking note of the submissions put forth by the assessee ... from the present case. According to the Revenue, since the statement of the Director, Shri Jitendra Jain was also corroborated by the statements of entry operators, it was indeed incriminating enough to justify the additions made by the AO. 10. We have heard both the parties, perused the details, documents

Kamlashri Builders, Mumbai vs. DCIT -CC- 3(4), Mumbai

In the result, the appeals of the assessee for AYs 2008-09, 2009-10, 2010-

Bench: Shri Aby T Varkey & Shri Gagan Goyal

paid interest thereon, vide letter dated 18-03-2016. In the said letter the assessee had also sought cross examination of the so-called entry operators based on whose statements, admission was extracted under duress from Shri Jitendra Jain. Taking note of the submissions put forth by the assessee ... from the present case. According to the Revenue, since the statement of the Director, Shri Jitendra Jain was also corroborated by the statements of entry operators, it was indeed incriminating enough to justify the additions made by the AO. 10. We have heard both the parties, perused the details, documents

Kamlashri Builders, Mumbai vs. DCIT -CC- 3(4), Mumbai

In the result, the appeals of the assessee for AYs 2008-09, 2009-10, 2010-

Bench: Shri Aby T Varkey & Shri Gagan Goyal

paid interest thereon, vide letter dated 18-03-2016. In the said letter the assessee had also sought cross examination of the so-called entry operators based on whose statements, admission was extracted under duress from Shri Jitendra Jain. Taking note of the submissions put forth by the assessee ... from the present case. According to the Revenue, since the statement of the Director, Shri Jitendra Jain was also corroborated by the statements of entry operators, it was indeed incriminating enough to justify the additions made by the AO. 10. We have heard both the parties, perused the details, documents

Kamlashri Builders, Mumbai vs. DCIT -CC- 3(4), Mumbai

In the result, the appeals of the assessee for AYs 2008-09, 2009-10, 2010-

Bench: Shri Aby T Varkey & Shri Gagan Goyal

paid interest thereon, vide letter dated 18-03-2016. In the said letter the assessee had also sought cross examination of the so-called entry operators based on whose statements, admission was extracted under duress from Shri Jitendra Jain. Taking note of the submissions put forth by the assessee ... from the present case. According to the Revenue, since the statement of the Director, Shri Jitendra Jain was also corroborated by the statements of entry operators, it was indeed incriminating enough to justify the additions made by the AO. 10. We have heard both the parties, perused the details, documents

Kamla Ankur Venture, Mumbai vs. DCIT (3)(4), Central Circle, Mumbai

In the result, the appeals of the assessee for AYs 2008-09,

Bench: Shri Aby T. Varkey, Jm & Shri Gagan Goyal, Am आयकरअपीलसं/I.T.A. Nos.1280 To 1286/Mum/2019 (निर्धारणवर्ा / Assessment Years:2008-09 To 2014-15) Kamla Ankur Venture बिधम/ Dcit, Central Circle-3(4) Ground Floor, Shanti Vimal, P. 19Th Floor, Air India Vs. M. Road, Vile Parle East, Building, Nariman Point, Mumbai-400021. Mumbai-400057. स्थायीलेखासं./जीआइआरसं./Pan/Gir No. :Aaifk4902H (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Rashmikant Modi Ms. Ketki Rajeshirke Revenue By: Shri Vinay Sinha (Dr) सुनवाईकीतारीख / Date Of Hearing: 15/07/2022 घोषणाकीतारीख /Date Of Pronouncement: 30/08/2022 आदेश / O R D E R Per Bench These Appeals Preferred By The Assessee Are Against The Common Order Of The Ld. Commissioner Of Income Tax (Appeals)-51, Mumbai [Hereinafter In Short “Ld. Cit(A)”] Dated 24.12.2018 For A.Y. 2008-09 To Ay. 2014-15. Since Issues Involved Are Common, All The Appeals For All The Assessment Year/Years (Hereinafter Referred To As “Ay”) Were Heard Together. Both The Parties Also Argued Them Together Raising Similar Arguments On These Issues. Accordingly, For The Sake Of Convenience & Brevity, We Dispose All The Appeals By This Consolidated Order.

order and after analysing the parties from whom assessee had taken unsecured loans came to the conclusion that these lenders are mere entry operators who are giving accommodation entries for purchases/sale, unsecured loans advances etc. After examining the financials and credentials of these loan creditors, the AO recorded his comments ... vide letters dated 07-03-2016 & 18-03-2016. In the said letters the assessee had also sought cross examination of the so- called entry operators based on whose statements, admission was extracted under duress from Shri Jitendra Jain. Taking note of the submissions put forth by the assessee

Kamla Ankur Venture, Mumbai vs. DCIT (3)(4), Mumbai

In the result, the appeals of the assessee for AYs 2008-09,

Bench: Shri Aby T. Varkey, Jm & Shri Gagan Goyal, Am आयकरअपीलसं/I.T.A. Nos.1280 To 1286/Mum/2019 (निर्धारणवर्ा / Assessment Years:2008-09 To 2014-15) Kamla Ankur Venture बिधम/ Dcit, Central Circle-3(4) Ground Floor, Shanti Vimal, P. 19Th Floor, Air India Vs. M. Road, Vile Parle East, Building, Nariman Point, Mumbai-400021. Mumbai-400057. स्थायीलेखासं./जीआइआरसं./Pan/Gir No. :Aaifk4902H (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Rashmikant Modi Ms. Ketki Rajeshirke Revenue By: Shri Vinay Sinha (Dr) सुनवाईकीतारीख / Date Of Hearing: 15/07/2022 घोषणाकीतारीख /Date Of Pronouncement: 30/08/2022 आदेश / O R D E R Per Bench These Appeals Preferred By The Assessee Are Against The Common Order Of The Ld. Commissioner Of Income Tax (Appeals)-51, Mumbai [Hereinafter In Short “Ld. Cit(A)”] Dated 24.12.2018 For A.Y. 2008-09 To Ay. 2014-15. Since Issues Involved Are Common, All The Appeals For All The Assessment Year/Years (Hereinafter Referred To As “Ay”) Were Heard Together. Both The Parties Also Argued Them Together Raising Similar Arguments On These Issues. Accordingly, For The Sake Of Convenience & Brevity, We Dispose All The Appeals By This Consolidated Order.

order and after analysing the parties from whom assessee had taken unsecured loans came to the conclusion that these lenders are mere entry operators who are giving accommodation entries for purchases/sale, unsecured loans advances etc. After examining the financials and credentials of these loan creditors, the AO recorded his comments ... vide letters dated 07-03-2016 & 18-03-2016. In the said letters the assessee had also sought cross examination of the so- called entry operators based on whose statements, admission was extracted under duress from Shri Jitendra Jain. Taking note of the submissions put forth by the assessee

Kamla Ankur Venture, Mumbai vs. DCIT(3)(4), Mumbai

In the result, the appeals of the assessee for AYs 2008-09,

Bench: Shri Aby T. Varkey, Jm & Shri Gagan Goyal, Am आयकरअपीलसं/I.T.A. Nos.1280 To 1286/Mum/2019 (निर्धारणवर्ा / Assessment Years:2008-09 To 2014-15) Kamla Ankur Venture बिधम/ Dcit, Central Circle-3(4) Ground Floor, Shanti Vimal, P. 19Th Floor, Air India Vs. M. Road, Vile Parle East, Building, Nariman Point, Mumbai-400021. Mumbai-400057. स्थायीलेखासं./जीआइआरसं./Pan/Gir No. :Aaifk4902H (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Rashmikant Modi Ms. Ketki Rajeshirke Revenue By: Shri Vinay Sinha (Dr) सुनवाईकीतारीख / Date Of Hearing: 15/07/2022 घोषणाकीतारीख /Date Of Pronouncement: 30/08/2022 आदेश / O R D E R Per Bench These Appeals Preferred By The Assessee Are Against The Common Order Of The Ld. Commissioner Of Income Tax (Appeals)-51, Mumbai [Hereinafter In Short “Ld. Cit(A)”] Dated 24.12.2018 For A.Y. 2008-09 To Ay. 2014-15. Since Issues Involved Are Common, All The Appeals For All The Assessment Year/Years (Hereinafter Referred To As “Ay”) Were Heard Together. Both The Parties Also Argued Them Together Raising Similar Arguments On These Issues. Accordingly, For The Sake Of Convenience & Brevity, We Dispose All The Appeals By This Consolidated Order.

order and after analysing the parties from whom assessee had taken unsecured loans came to the conclusion that these lenders are mere entry operators who are giving accommodation entries for purchases/sale, unsecured loans advances etc. After examining the financials and credentials of these loan creditors, the AO recorded his comments ... vide letters dated 07-03-2016 & 18-03-2016. In the said letters the assessee had also sought cross examination of the so- called entry operators based on whose statements, admission was extracted under duress from Shri Jitendra Jain. Taking note of the submissions put forth by the assessee

Kamla Ankur Venture, Mumbai vs. DCIT, Central Cirle-(3)(4), Mumbai

In the result, the appeals of the assessee for AYs 2008-09,

Bench: Shri Aby T. Varkey, Jm & Shri Gagan Goyal, Am आयकरअपीलसं/I.T.A. Nos.1280 To 1286/Mum/2019 (निर्धारणवर्ा / Assessment Years:2008-09 To 2014-15) Kamla Ankur Venture बिधम/ Dcit, Central Circle-3(4) Ground Floor, Shanti Vimal, P. 19Th Floor, Air India Vs. M. Road, Vile Parle East, Building, Nariman Point, Mumbai-400021. Mumbai-400057. स्थायीलेखासं./जीआइआरसं./Pan/Gir No. :Aaifk4902H (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Rashmikant Modi Ms. Ketki Rajeshirke Revenue By: Shri Vinay Sinha (Dr) सुनवाईकीतारीख / Date Of Hearing: 15/07/2022 घोषणाकीतारीख /Date Of Pronouncement: 30/08/2022 आदेश / O R D E R Per Bench These Appeals Preferred By The Assessee Are Against The Common Order Of The Ld. Commissioner Of Income Tax (Appeals)-51, Mumbai [Hereinafter In Short “Ld. Cit(A)”] Dated 24.12.2018 For A.Y. 2008-09 To Ay. 2014-15. Since Issues Involved Are Common, All The Appeals For All The Assessment Year/Years (Hereinafter Referred To As “Ay”) Were Heard Together. Both The Parties Also Argued Them Together Raising Similar Arguments On These Issues. Accordingly, For The Sake Of Convenience & Brevity, We Dispose All The Appeals By This Consolidated Order.

order and after analysing the parties from whom assessee had taken unsecured loans came to the conclusion that these lenders are mere entry operators who are giving accommodation entries for purchases/sale, unsecured loans advances etc. After examining the financials and credentials of these loan creditors, the AO recorded his comments ... vide letters dated 07-03-2016 & 18-03-2016. In the said letters the assessee had also sought cross examination of the so- called entry operators based on whose statements, admission was extracted under duress from Shri Jitendra Jain. Taking note of the submissions put forth by the assessee

Kamla Ankur Venture, Mumbai vs. DCIT(3)(4), Mumbai

In the result, the appeals of the assessee for AYs 2008-09,

Bench: Shri Aby T. Varkey, Jm & Shri Gagan Goyal, Am आयकरअपीलसं/I.T.A. Nos.1280 To 1286/Mum/2019 (निर्धारणवर्ा / Assessment Years:2008-09 To 2014-15) Kamla Ankur Venture बिधम/ Dcit, Central Circle-3(4) Ground Floor, Shanti Vimal, P. 19Th Floor, Air India Vs. M. Road, Vile Parle East, Building, Nariman Point, Mumbai-400021. Mumbai-400057. स्थायीलेखासं./जीआइआरसं./Pan/Gir No. :Aaifk4902H (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Rashmikant Modi Ms. Ketki Rajeshirke Revenue By: Shri Vinay Sinha (Dr) सुनवाईकीतारीख / Date Of Hearing: 15/07/2022 घोषणाकीतारीख /Date Of Pronouncement: 30/08/2022 आदेश / O R D E R Per Bench These Appeals Preferred By The Assessee Are Against The Common Order Of The Ld. Commissioner Of Income Tax (Appeals)-51, Mumbai [Hereinafter In Short “Ld. Cit(A)”] Dated 24.12.2018 For A.Y. 2008-09 To Ay. 2014-15. Since Issues Involved Are Common, All The Appeals For All The Assessment Year/Years (Hereinafter Referred To As “Ay”) Were Heard Together. Both The Parties Also Argued Them Together Raising Similar Arguments On These Issues. Accordingly, For The Sake Of Convenience & Brevity, We Dispose All The Appeals By This Consolidated Order.

order and after analysing the parties from whom assessee had taken unsecured loans came to the conclusion that these lenders are mere entry operators who are giving accommodation entries for purchases/sale, unsecured loans advances etc. After examining the financials and credentials of these loan creditors, the AO recorded his comments ... vide letters dated 07-03-2016 & 18-03-2016. In the said letters the assessee had also sought cross examination of the so- called entry operators based on whose statements, admission was extracted under duress from Shri Jitendra Jain. Taking note of the submissions put forth by the assessee

Kamla Ankur Venture, Mumbai vs. DCIT(3)(4), Central Circle, Mumbai

In the result, the appeals of the assessee for AYs 2008-09,

Bench: Shri Aby T. Varkey, Jm & Shri Gagan Goyal, Am आयकरअपीलसं/I.T.A. Nos.1280 To 1286/Mum/2019 (निर्धारणवर्ा / Assessment Years:2008-09 To 2014-15) Kamla Ankur Venture बिधम/ Dcit, Central Circle-3(4) Ground Floor, Shanti Vimal, P. 19Th Floor, Air India Vs. M. Road, Vile Parle East, Building, Nariman Point, Mumbai-400021. Mumbai-400057. स्थायीलेखासं./जीआइआरसं./Pan/Gir No. :Aaifk4902H (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Rashmikant Modi Ms. Ketki Rajeshirke Revenue By: Shri Vinay Sinha (Dr) सुनवाईकीतारीख / Date Of Hearing: 15/07/2022 घोषणाकीतारीख /Date Of Pronouncement: 30/08/2022 आदेश / O R D E R Per Bench These Appeals Preferred By The Assessee Are Against The Common Order Of The Ld. Commissioner Of Income Tax (Appeals)-51, Mumbai [Hereinafter In Short “Ld. Cit(A)”] Dated 24.12.2018 For A.Y. 2008-09 To Ay. 2014-15. Since Issues Involved Are Common, All The Appeals For All The Assessment Year/Years (Hereinafter Referred To As “Ay”) Were Heard Together. Both The Parties Also Argued Them Together Raising Similar Arguments On These Issues. Accordingly, For The Sake Of Convenience & Brevity, We Dispose All The Appeals By This Consolidated Order.

order and after analysing the parties from whom assessee had taken unsecured loans came to the conclusion that these lenders are mere entry operators who are giving accommodation entries for purchases/sale, unsecured loans advances etc. After examining the financials and credentials of these loan creditors, the AO recorded his comments ... vide letters dated 07-03-2016 & 18-03-2016. In the said letters the assessee had also sought cross examination of the so- called entry operators based on whose statements, admission was extracted under duress from Shri Jitendra Jain. Taking note of the submissions put forth by the assessee

Kamla Ankur, Mumbai vs. DCIT(3)(4), Mumbai

In the result, the appeals of the assessee for AYs 2008-09,

Bench: Shri Aby T. Varkey, Jm & Shri Gagan Goyal, Am आयकरअपीलसं/I.T.A. Nos.1280 To 1286/Mum/2019 (निर्धारणवर्ा / Assessment Years:2008-09 To 2014-15) Kamla Ankur Venture बिधम/ Dcit, Central Circle-3(4) Ground Floor, Shanti Vimal, P. 19Th Floor, Air India Vs. M. Road, Vile Parle East, Building, Nariman Point, Mumbai-400021. Mumbai-400057. स्थायीलेखासं./जीआइआरसं./Pan/Gir No. :Aaifk4902H (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Rashmikant Modi Ms. Ketki Rajeshirke Revenue By: Shri Vinay Sinha (Dr) सुनवाईकीतारीख / Date Of Hearing: 15/07/2022 घोषणाकीतारीख /Date Of Pronouncement: 30/08/2022 आदेश / O R D E R Per Bench These Appeals Preferred By The Assessee Are Against The Common Order Of The Ld. Commissioner Of Income Tax (Appeals)-51, Mumbai [Hereinafter In Short “Ld. Cit(A)”] Dated 24.12.2018 For A.Y. 2008-09 To Ay. 2014-15. Since Issues Involved Are Common, All The Appeals For All The Assessment Year/Years (Hereinafter Referred To As “Ay”) Were Heard Together. Both The Parties Also Argued Them Together Raising Similar Arguments On These Issues. Accordingly, For The Sake Of Convenience & Brevity, We Dispose All The Appeals By This Consolidated Order.

order and after analysing the parties from whom assessee had taken unsecured loans came to the conclusion that these lenders are mere entry operators who are giving accommodation entries for purchases/sale, unsecured loans advances etc. After examining the financials and credentials of these loan creditors, the AO recorded his comments ... vide letters dated 07-03-2016 & 18-03-2016. In the said letters the assessee had also sought cross examination of the so- called entry operators based on whose statements, admission was extracted under duress from Shri Jitendra Jain. Taking note of the submissions put forth by the assessee

DCIT- CC- 3(2) Mumbai, Mumbai vs. Geeta Gopal Synthetic P Ltd., Mumbai

In the result, the appeal filed by the Revenue is partly allowed

Bench: Shri Prashant Maharshi () & Kavitha Rajagopal () Dcit-Cc 3(2), Mumbai Vs Geeta Gopal Synthetic P Ltd Central Range-3, Room No.1913, 111/113, Sindh Cloth Market Air India Building, Nariman Point, Vithalwadi, Kalbadevi, Mumbai-400 Mumbai 064 Pan : Aaacg5401A Appellant Respondent

assessee company which was a conduit for introducing the unaccounted funds by way of accommodation entries from concerns of Shri Pravinkumar Jain, an entry operator. It was stated that the assessee company was not carrying out any business activity. The Assessing Officer passed the assessment order under section

M/S Edelweiss Rural & Corporate Services Private Limited, Mumbai vs. JCIT Central Circle-1(2), Mumbai

In the result, appeal of the assessee for A

inordinate profit earned in this manner was not offered to tax in India and was either siphoned off abroad or suppressed by introducing entry operators. The findings of the Investigation Wing regarding the Assessee Company's activities in brief as under a) Edelweiss is a leading player in Commodity, Currency

M/S Edelweiss Rural & Corporate Services Private Limited (Earlier Know As M/S Edelweiss Commodities Services Limited), Mumbai vs. ACIT Central Circle-1(2), Mumbai

In the result, appeal of the assessee for A

inordinate profit earned in this manner was not offered to tax in India and was either siphoned off abroad or suppressed by introducing entry operators. The findings of the Investigation Wing regarding the Assessee Company's activities in brief as under a) Edelweiss is a leading player in Commodity, Currency