come to
the notice that the assessee company has taken
accommodation entries from one of the companies of Sh.
Sanjay Rastogi, i.e., Hallmark Helathcare ... have taken accommodation entry. It was stated by
him that after receipt of cheques by companies seeking
accommodation entry or bogus entry, money was taken
laundering mechanism wherein it was
established that bogus accommodation entries
were being provided. These accommodation
entries are received in lieu of payment of cash ... that case that the
modus operandi used by the entry provider s for
providing accommodation entry to different
persons/beneficiaries was very similar
Date on which Name of Account
which entry taken Entry taken Holder of entry
giving account
141581 23-May-02 SAAR Enterprises ... Bank from which Branch of A/c No. entry giving
entry given entry giving account
bank
Corpn. Bank Paschim Vihar 52116
Corpn. Bank Paschim Vihar
pending). Shri Deepak Gupta has allegedly
admitted that he was providing accommodation entries to the assessee. It has
been contended on behalf of the revenue ... business
activity accept that of providing accommodation entries as described
above that of providing accommodation entries as described above, it
is seen that the assesee
assessment years 2002-03 in the form of cheques/ DD as accommodation entries
from various persons/ concerns. Accordingly, the AO reopened the assessment by
issuing ... companies
which were non genuine entities and were giving only accommodation
entries. The companies from which entries were received belong to Mahesh
Garg group. This
accommodation entries from 28 entry
providers to the tune of Rs. 2,39,83,261/- by way of bogus purchases . The
accommodation entry providers ... hawala/accommodation entries for bogus purchases
from 28 entry providers to the tune of Rs. 2,39,83,261/- from these
accommodation entry providers
obtained accommodation entry in
the form of Loans and Advances from Basant
Marketing Pvt. Ltd. Kolkata.
The assessee has taken
accommodation entry ... Kolkata
dated 12.02.2013 M/s Basant Marketing (P)
Ltd has provided accommodation entries to
various beneficiaries during the year and
the assessee
ENTR WHIC T WHIC
Y H HOLDER H
TAKE ENTRY OF ENTRY
N TAKEN ENTRY GIVEN
GIVING
ACCOUN
T
OBC Azadpur 602250 29 April ... through thousands of entries to discern and determine which of
their assessee, if any, has been a beneficiary of an accommodation
entry. From these letters
notice. The
allegation against the assessee was that they had received
accommodation entries of Rs.42,03,250/- as per information
received from the Investigation ... money in the form of accommodation entries. The name of
the operator, who had given the accommodation entry and the
ITA No. 643/2011 Page
2009, where he tendered that
he was engaged in providing accommodation entries
through various companies and bogus long term gains were
issued to various parties ... issued by him are bogus as
cash is received for issuing accommodation entries/bills and
there is no real transaction. It was established that
