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2023 (5) TMI 1216 - ITAT DELHIDetermination of commission income of the proven accommodation entry operator - CIT (A)’s reducing the commission income to 1.04% against the AO’s determination @ 2% - HELD THAT:- identical issue was considered by the coordinate Bench of the Tribunal in the case of the brother of the assessee, Anand Kumar Jain [2023 (1) TMI 1254 - ITAT PUNE] the rate of commission in the present cases is determined at 0.47%. AO is accordingly directed to follow the direction in the aforesaid ITAT order. Protective addition - HELD THAT:- We note that the Ld. CIT(A) has held that the impugned amount can at best be treated as obtained out of assessee’s undisclosed commission income which has already been brought to tax. We note that on identical issue, the Tribuna l[2023 (5) TMI 1186 - ITAT DELHI] in the case of Sh. Anand Kumar Jain, observed that such receipt form part of accommodation entries and that the AO may verify the same. Following the aforesaid precedent, we direct the AO to verify the same as stated above. Apropos DVO Report - difference in the value of property purchased by assessee and his wife during the year under consideration - immovable property purchased by the appellant was referred for valuation to the DVO - HELD THAT:- As CIT(A) has given a finding transaction was not below the circle rate. We note that the ld. CIT(A) has passed a well reasoned order, which does not need interference.
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