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2016 (10) TMI 1179 - AT - Income TaxEstimation of commission income - Accommodation bills to certain parties - Held that:- There cannot be a fixed criteria to adopt as to at what rate the commission income in such cases can be adopted for turnover, however, considering the facts of the case and submissions of the A.R., in our view, the estimation of commission income at the rate of 3% in the absence of any evidence, any calculation or other basis or any example of a similarly placed case seems to be on higher side. The assessee, on the other hand, has supported its case while providing all the details including the actual amount of the turnover and the actual amount received by the assessee and the AO has not pointed out any peculiar point on the basis of which the calculation and income offered by the assessee can be faulted with. We accordingly restrict the income offered from the accommodation bills turnover at the rate of 1% as against 3% estimated by the AO. Before parting, it is made clear that our above observations will not have any bearing in any other case as such type of cases have to be decided on their own merits. - Decided in favour of assessee.
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