operative society, the primary
object of which is to provide financial accommodation to its members for
agricultural purposes or for purposes connected with agricultural activities ... operative society, the primary object of
which is to provide financial accommodation to its members for agricultural
purposes or for purposes connected with agricultural activities
accommodation entries as share
application money from the various companies which are managed
and controlled by Shri Praveen Kumar Jain Group, Mumbai during
the financial ... Rajasthan, Jaipur wherein it is available that the assessee has
taken the accommodation entries as share application money from
the following companies which are managed
accommodation entries as share
application money from the various companies which are managed
and controlled by Shri Praveen Kumar Jain Group, Mumbai during
the financial ... Rajasthan, Jaipur wherein it is available that the assessee has
taken the accommodation entries as share application money from
the following companies which are managed
claimed by the assessee out of these purported share
transactions during the financial year 2013-14 (AY 2014-15). It is also unearthed
during ... provide accommodation entry of bogus gain and Bogus loss
is detected. Such entry providers confirmed that they were involved in providing
accommodation entries before
their
statements, they admitted that they earned commission for
facilitating prearranged accommodation entries as per the demand
of the client. For this they had made ... holders involved in these transactions were either bogus or
devoid of any financial capabilities to make such investment and
were conscious parties in this entries
beneficiary, who has got such accommodation entries through the Bank
Accounts operated by Shri Vipin Garg during the financial year 2011-12
relevant to assessment ... beneficiary, who has got such accommodation entries through the Bank
Accounts operated by Shri Vipin Kumar Garg during the financial year
Praveen Kumar Jain Group, Mumbai.
S. No. Name of the PAN No. Financial Year Amount
entry provider
1 M/s Falak AABCF5837A ... Kumar Jain Group, Mumbai:
S. No. Name of the entry PAN No. Financial Year Amount
provider
1 M/s Falak Trading AABCF5837A
which do not have real business and was
operated only to provide accommodation entry in the books of account
during the year under consideration. During ... unexplained income of the assessee generated from accommodation
entries of shell companies during the financial year 2012-13. Therefore,
the amount
through banking channel proves creditworthiness,
identity and genuineness of the transactions. Necessarily
accommodation entries are an exercise of introducing
unaccounted money or reducing profit ... those companies which did
not have a proven track record of financial soundness.
Therefore, a higher burden Iles on the appellant to establish the
genuineness
accommodation
entry. Heavy reliance has been placed by the authority below
over a statement of one employee of some M/s Gateway
Financial Services ... farfetched
even when he has stated that its Company has been providing
accommodation entry in the scrip of Channel Nine
Entertainment Ltd., but that does
