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TMI Blog2020 (7) TMI 751X X X X Extracts X X X X X X X X Extracts X X X X ..... he assessment u/s 153C was completed treating the 4% as income. Subsequently, the PCIT-4 passed the order u/s 263 of the Act and thereafter the assessment u/s 144/142(1) r.w.s. 153C of the Act was competed by assessing the 100% addition. CIT(A) upheld the disallowance. The applicant/appellant had produced the order of co-ordinate bench in the case of M/s. Chaitali Sales Agency Pvt. Ltd and Gold Star Finvest Pvt. Ltd. The said cases were 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. After perusing the order dated 25.03.2019, we noticed that the decisions in the cas ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d 25.03.2019. The appeal pertains to the addition of ₹ 2,34,52,668/- u/s 68 of the Income Tax Act, 1961 on the basis of this fact that the company was dealing in providing the accommodation entries. The addition was raised on account of third party statement. The assessee alternate plea was that the assessee was earning the commission by providing accommodation entries, the only amount of commission could be added to the assessee s taxable income and not entire amount of transaction. In brief, the search was conducted in the case of M/s. JIK Industries Ltd. The statement of Shri DilipJayantilal Shah was recorded on 04.02.2011. It was stated that the applicant used to issue accommodation entries on commission basis @ 0.02% to 0.10%. On ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 9. Registry is directed to refix the case in due course of time. Parties be informed. 5. Since all the Miscellaneous Applications filed by the assessee in case bearing ITA. No.7106 to 7108/M/2017 having similar controversy, therefore, the finding above is quite applicable to the facts of these cases also as mutatis mutandis, therefore, these Miscellaneous Applications are hereby also allowed accordingly. 6. However, before we part with the matter, we must deal with one procedural issue as well. While hearing of miscellaneous applications was concluded on 06.03.2020, this order thereon is being pronounced today, much after the expiry of 90 days from the date of conclusion of hearing. We are also alive to the fact that rule 34(5) of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of action arises shall be extended for a period of 15 days after the lifting of lockdown . Hon'ble Bombay High Court, in an order dated 15th April 2020, has, besides extending the validity of all interim orders, has also observed that, It is also clarified that while calculating time for disposal of matters made time-bound by this Court, the period for which the order dated 26th March 2020 continues to operate shall be added and time shall stand extended accordingly , and also observed that arrangement continued by an order dated 26th March 2020 till 30th April 2020 shall continue further till 15th June 2020 . Now the Maharashtra Government has extended the Lockdown Period upto 31 July, 2020 by virtue of order dated 29 June, 2020. Th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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