Tarun Goyal and Others Versus ACIT Central Circle-4, New Delhi - Income Tax - ITAT DELHI - Tri - Modus operandi - Providing accomodation entries - Held that - The assessee has indulged in circular and multiple transactions, by layering through floatation of more than 90 companies - Huge amount of cash has been deposited and transferred to and from assessee s bank account - Tax can be levied only on peak unexplained credit - It is impossible to arrive at the correct assessable amount - The burden................................... Income Tax - Case Laws
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