providing of accommodation entries amounts to running a
parallel economy and is a sort of money laundering, which is against public
policy. Therefore, assessee
bogus accommodation entries aggregating "routing the unexplained
money" in parallel black economy of entire Galaxy Group willingly to evade taxes
bogus accommodation entries aggregating "routing the unexplained
money" in parallel black economy of entire Galaxy Group willingly to evade taxes
about or
understand but universally acknowledged as a powerful force in the
economy", but one common thread in all descriptions of 'sogo shosha ... equated with activities of a normal trader. If there is no parallel to sogo shosha
as a business model, there cannot obviously be a parallel
12AB of the Income
Tax Act. However, the appellant also faces a parallel and
identical rejection u/s 80G of the Act by the same ... said connected matter as well, in the interest of judicial
economy and to avoid repetition.
03. That the facts leading to filing the present appeal
12AB of the Income
Tax Act. However, the appellant also faces a parallel and
identical rejection u/s 80G of the Act by the same ... said connected matter as well, in the interest of judicial
economy and to avoid repetition.
03. That the facts leading to filing the present appeal
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