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TMI Blog2019 (3) TMI 1991X X X X Extracts X X X X X X X X Extracts X X X X ..... s - HELD THAT:- As in the present case the assessee itself offered profit rate at 0.26%, accepted by the revenue for the A.Y. 2011-12 and which is more than in the case of M/s. Mercantile Pvt. Ltd., which was also related to Badalia Group of cases. In view of the same, we find that the CIT-A was correct in directing the AO to reduce the addition - peal of the revenue is dismissed - no reason to ad ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted the submission of assessee in the case of M/s. Mercantile Pvt. Ltd. in an identical situation that the commission of accommodation entries was Rs.250 per lakh rupees and determined the tax @ 0.25%. Whereas in the present case the assessee itself offered profit rate at 0.26%, accepted by the revenue for the A.Y. 2011-12 and which is more than in the case of M/s. Mercantile Pvt. Ltd., which was ..... X X X X Extracts X X X X X X X X Extracts X X X X
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