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Income Tax Assessment Reopened: Section 147 Invoked, Additions Made u/s 68 for Accommodation Entries via Conduit Entity.
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....Reopening of assessment u/s 147 - additions u/s 68 on account of amount routed through for giving accommodation entries on account of the amounts received in cash as well as cheque on account of share capital - Since, the assessee is proven to be a conduit/pass through entity without any business of its own, no other addition in the hands of the assessee company is warranted.....