2012 (11) TMI 1231

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.... 9-7-2012 of leaned CIT(A)-8, Mumbai relating to the assessment year 2005-2006. 2. The assessee has filed additional ground against initiation of proceeding under Section 147 of the Act, which was not pressed during the course of hearing. Therefore, the same is dismissed as not pressed. 3. The ground on merit is against upholding the addition of Rs. 1,71,615/- made by the Assessing Officer u....

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....se companies are either shown as broker or dealers to a stock exchange but are defaulters and are not allowed to operate on the stock exchange. Shri Mukesh Chokshi stated that the modus operandi of these concerns of providing the accommodation entries for persons who had unaccounted money and are in a need of claiming bogus profits, capital gains etc. whereby for a commission of 0.15% is charged. ....

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....res were genuine and accordingly the entire addition were deleted. 8. On the other hand, learned DR placed reliance on the order of the CIT(A). 9. After considering the submissions and perusing the material on record, I found that this issue is squarely covered by the decision of the Tribunal in the case of Smt. Durgadevi Mundra and Shri Mukesh Mundra (supra), where identical facts were invo....