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2015 (6) TMI 565 - AT - Income TaxNature of Commission earned - treated as Income from Other Source or Business income - Held that:- The assessee in each and every case was provided opportunity on several occasions to prove that the said miscellaneous income was in fact the commission income received in lieu of the services provided to various persons. The fact of notices being returned back unserved or denial by Shri Pawan Kumar Kedia and Sri R.K.Khetrapal and reply of Rawmet Commodities Pvt. Ltd. and M/s.Rawmet Resources were informed to the assessee and due opportunities was given to the assessee to prove the commission income received in lieu of services provided to various persons in the form of evidences/documents or details etc. but nothing was produced before AO as well as ld.CIT(A). Even before us no documentary evidence was placed on record to establish that in fact it was a commission income in lieu of the services rendered to various persons. CIT(A) correctly the finding of A.O. that commission earned by assessee is assessable as “Income from Other Source” - Decided against assessee. Disallowance of set off of business loss comprising current depreciation and unabsorbed depreciation against the Commission Income - Held that:- In the circumstances and facts of the case order of ld. CIT(A) is not a speaking order and accordingly order of ld. CIT(A) on this issue is set aside to his file to decide the issue denovo and pass a speaking order and to deal with the decisions of various courts of law relied upon by the assessee along with the decisions of the Tribunal in the case of M/s. Jai Ushin Limited [2008 (1) TMI 441 - ITAT DELHI-F] and Suresh Industries Limited (2012 (11) TMI 674 - ITAT MUMBAI) relied upon before us and decide the issue de novo but after affording adequate opportunity of being heard to the assessee. - Decided in favour of assessee for statistical purposes.
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