https://www.taxtmi.com/caselaws?id=362759 The Tribunal upheld the decision of the lower authorities to treat the transactions as bogus and unexplained investments, dismissing the assessee's appeal against invoking Section 69 of the Income Tax Act and treating genuine transactions as hawala transactions. The Tribunal found that the transactions lacked actual delivery of securities and were considered bogus despite being recorded in books and through banking channels. As the entity involved was deemed a mere paper entity providing accommodation entries, the Tribunal affirmed the lower authorities' decision, resulting in the dismissal of the appeal. en-us Fri, 29 Jun 2018 00:00:00 +0530 Tue, 03 Jul 2018 07:23:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362759 The Tribunal upheld the decision of the lower authorities to treat the transactions as bogus and unexplained investments, dismissing the assessee's appeal against invoking Section 69 of the Income Tax Act and treating genuine transactions as hawala transactions. The Tribunal found that the transactions lacked actual delivery of securities and were considered bogus despite being recorded in books and through banking channels. As the entity involved was deemed a mere paper entity providing accommodation entries, the Tribunal affirmed the lower authorities' decision, resulting in the dismissal of the appeal. Case-Laws Income Tax Fri, 29 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362759