2019 (1) TMI 1266

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....42, 5943, 5944, 5945, 6487, 6488, 6489, 6490, 6491, 6492, 6505, 6504, 6503, 6502, 6499/2015 - -<br>Income Tax<br>SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER AND MS. SUCHITRA KAMBLE, JUDICIAL MEMBER ITA No 6500/2015, 6497, 6498, 6515, 6517, 6518, 6494, 6496, 483, 6350, 482, 488, 489, 485, 486, ITA No. 6711/2016, 6714, 6712, 6713, 6349, 6345, 6346, 6347, 6348/2016, ITA No 6348/2016, ITA No 492/2015, 493/2015, 494/15, 491/15 And ITA No. 490/2015 For The Assessee : Shri V.P. Gupta, Adv And Shri Anunav Kumar, Adv For The Revenue : Ms. Nidhi Srivastava, CIT-DR ORDER PER BENCH:- The above captioned appeals by several appellants have been preferred against the separate orders of the first appellate authority for respective Assessment Years. 2. A....

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.... rough notings, adopted the rate of 2% as against 2.25% adopted in original order. The Assessing Officers of Noida Charge adopted the same at 2.25%. 7. Before us, the quarrel boiled down to the determination of rate of commission alleged to have been earned by the appellants from providing accommodation entries. 8. There is no dispute that the appellants were engaged in clandestine activities in the illegal business of providing accommodation entries to the beneficiaries. The beneficiaries purchased cheques from the appellants by paying cash. We are of the considered opinion that in such illegal activities, there cannot, and should not be any precedence. However, the Assessing Officer has referred to some loose sheets on which the percent....

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....ction 34 as against the above two respondents. So far as Shri Advani is concerned Section 34 would not come in aid of the prosecution for another reason also. According to the prosecution case itself his name finds place only in one of the loose sheets (sheet No. 8) and not in MR 71/91. Resultantly, in view of our earlier discussion, section 34 cannot at all be pressed into service against him." 11. Similar view was taken by the Hon&#39;ble Supreme Court in the case of Common Cause, A registered Society Vs. UOI 394 ITR 220. 12. In the light of the ratio laid down by the Hon&#39;ble Supreme Court [supra], notings found in the loose sheets would not do any good to the Revenue. The assessee has claimed 25 paise or 0.25% on the strength of t....