Assessment under section 153A alleging unaccounted money and accommodation entries; additions deleted and SLP dismissed

Assessment under section 153A concerned allegation of generation of unaccounted money and its purported conversion into share capital as an accommodation entry; the reliance on third-party statements was central to the challenge. The appellate authorities CIT(A) and ITAT found the additions unsustainable and deleted them on evidentiary grounds, and the special leave petition seeking interference was dismissed by the SC, leaving the deletions intact.

---

---

The Supreme Court of India dismissed the special leave petition as there was no reason to interfere in the matter. Delay was condoned and pending applications were disposed of. (Citation: 2020 (1) TMI 517 - Supreme Court)

---