TMI Blog2022 (2) TMI 342X X X X Extracts X X X X X X X X Extracts X X X X ..... in this regard. Assessee has been found to be indulging in bogus accommodation entries, the income attributed to such transactions cannot be determined as per the whims and fancies of the assessee. On the facts and circumstances of the case, in our considered opinion, the 2% commission attributed by the revenue authorities is very fair. Hence, we do not find any infirmity in the same and we uphold the same - Decided against assessee. - I.T.A. Nos. 411,413,414,415 & 416/Mum/2021 - - - Dated:- 4-2-2022 - Shri Shamim Yahya (AM) And Shri Rahul Chaudhary (JM) Assessee by : None Department by : Shri Kishan Vyas ORDER Per Shri Shamim Yahya (AM) :- These are appeals by the assessee against respective orders of learned ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a, the appellant and a survey u/s,133A was carried out on 23.08.2017 in the case of appellant's company, M/s.Shri Someshwara Spun Ltd at Room No.36, 3rd Floor, Vasantwadi, 413E, Kalbadevi, Mumbai. During the survey proceedings, statement of employees of SVP Group mainly Mr.Sanjay Chhada, Mr.Bhupinder Singh and Mr.Shobit Nandavana were recorded under oath wherein they admitted that purchases of goods, both capital as well as revenue from various parties incsluding the appellant and its business concerns were accommodation entries and they were not supported by bills, lorry receipts and other supporting documents and without physical delivery of goods. Shri Chirag Pittie, the main person of SVP group was not able to prove these facts and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as carried out on 23.08.2017 in the case of appellant's company, M/s.Shri Someshwara Spun Ltd at Room No.36, 3rd Floor, Vasantwadi, 413E, Kalbadevi, Mumbai. During the survey proceedings, statement of employees of SVP Group mainly Mr.Sanjay Chhada, Mr.Bhupinder Singh and Mr.Shobit Nandavana were recorded under oath wherein they admitted that purchases of goods, both capital as well as revenue from various parties including the appellant and its business concerns were accommodation entries and they were not supported by bills, lorry receipts and other supporting documents and without physical delivery of goods. Shri Chirag Pittie the main person of SVP group was not able to prove these facts and also unable to provide proof of actual pur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ess of providing accommodation entries. Hence, the entire sales and purchases were accepted to be bogus and assesssee admitted that he was getting 0.01% as commission. In these facts, there is no reason why the books of assessee should be accepted. The rejection of the books in the light of clear admission of the assessee that he is a bogus accommodation entry provider is quiet correct and there is no infirmity in this regard. Assessee has been found to be indulging in bogus accommodation entries, the income attributed to such transactions cannot be determined as per the whims and fancies of the assessee. On the facts and circumstances of the case, in our considered opinion, the 2% commission attributed by the revenue authorities is very fa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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