2021 (1) TMI 903

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....06-07, CIT(A)-50/IT-72/2016-17-AY 2007-08, CIT(A)-50/IT-71/2016-17-AY 2008-09 & CIT(A)-50/IT-70/2016-17-AY 2009-10 respectively dated 25/04/2016 (ld. CIT(A) in short) against the order of assessment passed u/s.144 r.w.s.263 of the Income Tax Act, 1961 (hereinafter referred to as Act) dated 21/03/2016 by the ld. Dy. Commissioner of Income Tax Central Circle-8(1), Mumbai (hereinafter referred to as ld. AO). Identical issues are involved in all these appeals and hence, they are taken up together and disposed off by this common order for the sake of convenience. 2. At the outset we find that all these appeals are recalled matters vide M.A Order in MA Nos.22-25/Mum/2020 dated 24/07/2020 wherein it was held as under:- "3. The brief facts of t....

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....e related to same search in which the commission was assessed @ 0.15% of total deposits but the alternate contention was not dealing with the Hon'ble ITAT, therefore, the present Miscellaneous Application has been filed. 4. We have heard the argument advanced by the Ld. Representative of the parties and perused the record. All the appeals bearing ITA. Nos. 7105/M/2017 to 7108/M/2017 for the A.Y.2006-7 to 2009-10 has been decided by Hon'ble ITAT Mumbai 'F' Bench by virtue of order dated 25.03.2019. After perusing the order dated 25.03.2019, we noticed that the decisions in the case of Chaitali Sales Agency Pvt. Ltd. and Gold Star FinvestPvt. Ltd. were not dealt with. Subsequently these decisions were confirmed by the Hon'ble Bombay High Co....

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....arties through his various entities and one such entity was Khyati Sales Agency Pvt. Ltd., i.e. the assessee herein. It is not in dispute before us at this stage that assessee company is engaged in the business of providing accommodation entries. We find that there were credits to the tune of Rs. 2,19,20,333/- in the bank account of the assessee company, on which only commission income @4% was originally added by the ld. AO in the assessment framed u/s.153C of the Act. Later, this assessment was sought to be revised u/s.263 of the Act by the ld. Pr. Commissioner of Income Tax directing the ld. AO to add 100% of the credits in the bank account as income of the assessee. The ld. AO accordingly had added the entire sum credited in the bank acc....

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....e on the following decisions:- a. DCIT vs. Chaitali Sales Pvt. Ltd., in ITA No.4908 and 4910/Mum/2016 dated 17/05/2017 for A.Yrs. 2009-10 and 2011-12 respectively, where the commission income @.15% was directed to be added by this Tribunal under the similar facts and circumstances emanating out of the identical search in the case of JIK Industries Ltd., u/s.132 of the Act, as in the case of the assessee hereinbefore us. b. DCIT vs. Chaitali Sales in ITA No.4909/Mum/2016 for A.Y.2010-11 dated 05/09/2018. c. Decision of the Hon'ble Jurisdictional High Court in the case of PCIT vs. Mihir Agencies Pvt. Ltd., in Income Tax Appeal Nos. 71,74,94,100,119 and 133 of 2017 dated 25/03/2019 wherein the Hon'ble Jurisdictional High Court upheld the....