statement/affidavits that they were
engaged in providing bogus accommodation entries where in bogus sale bills
were issued without delivery of goods , in consideration ... statement/affidavits that they were engaged in providing bogus
accommodation entries where in bogus sale bills were issued without delivery
of goods , in consideration
against
bills is discounted in the bank. It was submitted that only sale bills which
were in the nature of purchase accommodation bills ... said sale bills(
purchase bills for the beneficiaries) issued by the assessee and the purpose of
issuing these alleged bogus bills is to provide accommodation
respect of 7 bills out of 33
bills) in the truck no, as mentioned in the bills so submitted by the appellant
on the basis ... bogus purchases, by
observingas under: -
"Information is available on 'record with the AO from Investigation Wing of
the Department regarding bogus bills issued
finding that the Assessee was
involved in the practice of receiving bogus bills in as
much as there was no material whatsoever on record ... assessee is bogus, let alone material to show assessee‟s
alleged involvement in practice of receiving bogus bills.
9.3 That the Assessing Officer erred
company for a commission. He, further, explained the modus
operandi of bogus bill trader as per which he had received RTGS
payments from BGRESL ... questioned Shri H. Venugopal of
CPSG about this specific purchase from bogus bill traders for
which, he could not establish the purchase with necessary proof
that
the Appellant was indulged in the business of issuance of bogus bills.
4. On the fact and circumstances of the case as well ... perspective bill seekers. The persons
using these bills would be saving substantial amount of tax by
claiming bogus deduction. They would be happy to part
bogus amounting to Rs.
2846 crores (Rs. 28,46,51,58,616/-).
4.5 He submitted that out of these bogus bill of entries ... been found to be bogus amounting to Rs. 2846 crores (Rs.
28,46,51,58,616/-). Out of the bogus bill of entries
regular books of benami concerns. Against the
bogus non-existence stock, bogus sale bill were issued to various
diamond merchants who usually buy rough diamonds ... that
he was instrumental in providing bogus/ accommodation entries
by providing bogus invoice towards bogus purchases. The
benami companies/entities were created by said
vide
statement/ affidavit that they were engaged in providing bogus
accommodation entries wherein bogus sale bills were issued without
delivery of goods, in consideration ... favour of
the assessee wherein the assessee made alleged bogus purchases through
these bogus bills issued by hawala entry providers in favour of the assessee
income and had
given inaccurate particulars of its income by taking bogus
bills. The fact of bogus accommodation entry bill has not
been controverted ... sales bills but from the perusal of sales bill supplied to assessee
it seems that some other person was signed the sales bill
supplied
