https://www.taxtmi.com/highlights?id=88871 The HC affirmed the lower appellate authorities' findings that the Assessee was a mere conduit for routing accommodation entries. The unexplained credits were determined to be taxable in the hands of ultimate beneficiaries, not the Assessee. No commission income was established for the Assessee, as the Jain Brothers were identified as the actual accommodation entry operators. The court noted minimal variations in bank account balances, supporting the conclusion that the Assessee was used as a pass-through entity. Consequently, no substantial questions of law were found, and the appeal was dismissed. en-us Thu, 29 May 2025 08:41:13 +0530 Thu, 29 May 2025 08:41:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=88871 The HC affirmed the lower appellate authorities' findings that the Assessee was a mere conduit for routing accommodation entries. The unexplained credits were determined to be taxable in the hands of ultimate beneficiaries, not the Assessee. No commission income was established for the Assessee, as the Jain Brothers were identified as the actual accommodation entry operators. The court noted minimal variations in bank account balances, supporting the conclusion that the Assessee was used as a pass-through entity. Consequently, no substantial questions of law were found, and the appeal was dismissed. Highlights Income Tax Thu, 29 May 2025 08:41:13 +0530 https://www.taxtmi.com/highlights?id=88871