Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2023 (6) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2023 (6) TMI 484 - AT - Income TaxEstimation of commission income - Providing Accommodation entries - Unexplained deposits/loans - assessee has failed to establish the genuineness and creditworthiness of the bank credit entries - CIT(A) observed that since the assessee is an entry provider the only addition that could be made is the commission charged by the assessee on providing accommodation entries and accordingly sustained partly - HELD THAT:- The undisputed fact and categorical finding of the AO show that the assessee is an entry provider. In our considered opinion when a person is engaged in the clandestine activities of providing accommodation entries he only charges commission whereas the cash belongs to the person who is taking the accommodation entry, therefore, there is no error or infirmity in the findings of CIT(A) in sustaining the addition on account of commission earned on providing accommodation entries.
|