THE COMMISSIONER OF I.T.-I, HYDERABAD. vs. M/S. AKASH CABLE TV NETWORK PVT.LTD., HYDERABAD.

Bench: P.SAM KOSHY,NARSING RAO NANDIKONDA

bogus/accommodation entries allegedly provided by different companies which were managed and operated by Mukesh Gupta and Rajan Jassal. The Assessing Officer noticed that these companies had been issued shares by the appellant-assessee. A question arose whether the share application money received was a genuine transaction. The Tribunal after noticing the facts on record felt that the matter cannot