TMI Blog2019 (12) TMI 577X X X X Extracts X X X X X X X X Extracts X X X X ..... that assessee has taken accommodation bill which was in the form of credit entry of the books of accounts and credit worthiness of the creditors was not proved. The detailed finding so recorded by the lower authorities are as per material on record. However, nothing was produced before me so as to persuade me to deviate from the finding recorded by lower authorities. Accordingly, do not find any reason to interfere in the order of the lower authorities. Appeal of the assessee is dismissed. - ITA No.5983/Mum/2018, 5984/Mum/2018, 5985/Mum/2018 (Assessment Year:2006-09) - - - Dated:- 14-11-2019 - SHRI R.C. SHARMA, AM Assessee by Shri Gautam Salecha Revenue by Shri Akhtar H Ansari ORD ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Ltd, M/s. Mihir Agencies Pvt. Ltd., M/s. Gold Star Finvest Pvt Ltd., M/s. Richmond Securities Pvt. Ltd., etc., all run by Shri Mukesh M. Chokshi, were engaged in fraudulent billing activities and in the business of providing bogus speculation profit/loss, commodities, profit/loss on commodity trading (through MCX) and had been continuing this business for many years. The list of clients who have taken entries from these companies has been extracted from the computer data seized from M/s. Mahasagar Securities Pvt. Ltd., office and ha; been found to consist of many beneficiaries out of which the assessee Shri. Mafatlal Devji Mehta is one of the beneficiary, who has taken bogus billing order to claim bogus capital /loss in the F.Y 2005-06 rele ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iness of various business concerns run by Shri Mukesh Choksi is not proved as they were only indulged in providing accommodation entries on which commission was charged and not indulged in genuine business. 6.1.16 From the above facts, it is clear that the appellant has taken an accommodation bill of ₹ 8,50,650/- which is in form of a credit entry in its books of account and credit worthiness of the creditor is not proved, therefore, respectfully following various judgments of Hon ble ITAT in Vlr. Choksi and various business concerns run by him where the Tribunal has held that the only business of Mr. Mukesh Choksi ;as providing accommodation entries. In instant case since the assessee had obtained accommodation entr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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