2014 (12) TMI 1264

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.... Mamta Bhargava, Adv. JUDGEMENT A prima facie case has been made out in this writ application wherein five assessment years, 2007-08 to 2011-12 concerning the writ petitioner, are involved. On a perusal of the communications of the Income Tax department dated 7th March, 2014 stated to be reasons requested by the writ petitioner for issuance of the Section 148 notices, I find that they do ....

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.... accommodation entries." Again in another notice relating to a different assessment year it is stated as follows - "It is clear that these are mere paper companies giving merely accommodation entries to M/s. Korp Resources Private Limited for bringing back its undisclosed income in the books of account through bogus share capital without paying any tax." Again another allegation lev....