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2023 (8) TMI 218 - ITAT MUMBAIEstimation of income - addition on protective bases - bogus share transactions and sale purchases - HELD THAT:- Since the entire business of providing accommodation entries was run by Mr. Praveen Kumar Jain and the profit/income by way of commission on the turnover through the conduit companies was also enjoyed by him, the income earned on turnover through these concerns, including the assessee, was included as income in the individual case of Mr. Praveen Kumar Jain. However, the Assessing Officer also assessed this income in the hands of the assessee on a protective basis. As we find that the coordinate bench of the Tribunal vide its order [2023 (1) TMI 1276 - ITAT MUMBAI] for the assessment years 2008-09 to 2014-15 upheld the addition made on substantive basis in the hands of Mr. Praveen Kumar Jain. Thus as the substantive addition has already been upheld by the coordinate bench in the case of Praveen Kumar Jain (supra), therefore the similar addition made on a protective basis in the hands of the assessee becomes unsustainable and therefore is directed to be deleted in all the assessment years under consideration before us - Decided in favour of assessee.
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