Accommodation Entries provided in form of bogus Purchases from Dummy Companies: ITAT upholds Addition u/s 69C of Income Tax Act

Accommodation - Entries - ITAT - Addition - Bogus - Purchase - Dummy - Company - income - tax - appellate - tribunal - TAXSCAN

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) upheld the addition under Section 69C of the Income Tax Act, 1961, and held that the accommodation entries provided in the form of bogus purchases from the dummy companies. The assessee made a purchase from the two companies viz., a purchase of Rs.14,93,750/- from M/s….

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