In the result, the above captioned appeals filed by the Revenue as well as the
Bench: Shri C.M. Garg & Shri Bhagirath Mal Biyani
disallowance u/s 68 of the Act pertaining to accommodation entry received by the assessee through shell entities and has also paid commission to the intermediaries @ 1%. The ld. CIT-DR submitted that the AO made addition by considering the statement of Director of Mega Money Commodities Pvt. Ltd. (MMCPL) which was deleted by the ld.CIT(A) without any basis. Therefore