TaxTMI 
TaxTMI 
2025 (9) TMI 30
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....-tax Act, 1961 (hereinafter referred to as 'the Act'). Heard both the parties. Case file perused. 2. Coming to the assessee's sole substantive grievance raised herein challenging both the learned lower authorities' action adding commission income @ 4% amounting to Rs. 3,68,956/-; for having provided accommodation entries to various parties, we note that the CIT(A) has confirmed the assessment findings to this effect as under: "4.1 Search and seizure proceedings u/s 132 of Act were carried out in the case of the appellant on 17.03.2021. The appellant is Chartered Accountant by profession, based at Rohtak. The Assessing officer on the basis of various facts as discussed in assessment orders for above Assessment Years, reached t....
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....s issued notice u/s 153A of the Act on above assessment years as the appellant has been covered u/s 132 of the Act. The AO vide para 6.6 (8.6 for AY 2017-18) of the assessment orders has discussed the basis for additions made on account of unaccounted commission income earned by the appellant for arranging accommodation entries of bogus LTCG for various clients against commission @4%. The AO has relied upon certain documents found and seized during the course of search as tabulated vide para 6 of the assessment order (para 8 for AY 2017- 18), statements of various persons recorded u/s 131 of the Act during pre-search proceedings where in they have been admitted that they have obtained accommodation entries of bogus LTCG through the appellan....
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....levant to AY 2018- 19 found and seized from residence of the appellant during the search proceedings are incriminating in nature as the same establish role of the appellant is arranging bogus LTCG for various clients (supra). 4.4 On the basis of above facts and discussion, it is thus found that the AO has made additions for AY 2015-16 to 2017-18 without having any incriminating material found and seized during the course of search proceedings u/s 132 of the Act. These AYs pertain to completed / unabated years as no assessment proceedings were pending for these years as on date of search and therefore, ratio of decision of Hon'ble Supreme Court in the case of M/s Abhisar Buildwell Pvt. Ltd. (Supra) is applicable to the facts of ....
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....ing accommodation entries in the form of bogus LTCG for various clients by charging commission for AY 2018-19. The AO has estimated such commission income @4%. Accordingly addition made by the AO for Rs. 3,68,956/- for AY 2018- 19 is hereby sustained and grounds of appeal no. 3-7 are dismissed." 3. Learned counsel has firstly filed the entire seized material indicating various cash and other entries involving Mr. Kamal Bansal etc. He next place on record a chart of 12 parties wherein it is claimed that both the learned authorities have extrapolated the relevant commission entries which nowhere disclosed any of the corresponding cash involved. The assessee's case accordingly is that he is aggrieved against both the learned lower authoriti....