https://www.taxtmi.com/caselaws?id=460905 ITAT Delhi dismissed revenue's appeal regarding additions under section 68 for undisclosed sources and unexplained bank entries. The tribunal found the assessee company was a shell concern operated by entry operators who facilitated accommodation entries for beneficiaries in exchange for commission. Since funds were immediately transferred to beneficiaries without the assessee retaining any benefit, and commission was already taxed in operators' hands, no separate addition was warranted. CIT(A)'s deletion of commission income was upheld as the company was merely a pass-through entity with no actual earnings. en-us Fri, 13 Sep 2024 00:00:00 +0530 Fri, 28 Feb 2025 21:00:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460905 ITAT Delhi dismissed revenue's appeal regarding additions under section 68 for undisclosed sources and unexplained bank entries. The tribunal found the assessee company was a shell concern operated by entry operators who facilitated accommodation entries for beneficiaries in exchange for commission. Since funds were immediately transferred to beneficiaries without the assessee retaining any benefit, and commission was already taxed in operators' hands, no separate addition was warranted. CIT(A)'s deletion of commission income was upheld as the company was merely a pass-through entity with no actual earnings. Case-Laws Income Tax Fri, 13 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460905