9911796707
TMI Blog2024 (8) TMI 1295X X X X Extracts X X X X X X X X Extracts X X X X ..... vity, but AO has not doubted this activity. He has accepted the alleged commission income of the assessee in providing accommodation entry of huge sum of Rs. 78.9 crores. He only made changes that instead of half percent, it should be 1% of commission income. The assessee should have earned in this activity. To our mind, the income of the assessee has been revised on an estimate basis, which is ba ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to Rs. 1,99,911/- levied under section 271(1)(c) of the Income Tax Act. 3. Brief facts of the case are that the assessee has filed its return of income on 04.09.2012. The assessee had disclosed a commission income of Rs. 1,34,000/-. It has been alleged by the ld. Assessing Officer that the assessee had provided accommodation entry and from that activity shown commission @ 0.05%, i.e. half percent ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... me by providing accommodation entry in itself is a doubtful activity, but ld. Assessing Officer has not doubted this activity. He has accepted the alleged commission income of the assessee in providing accommodation entry of huge sum of Rs. 78.9 crores. He only made changes that instead of half percent, it should be 1% of commission income. The assessee should have earned in this activity. To our ..... X X X X Extracts X X X X X X X X Extracts X X X X
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