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2017 (12) TMI 1115 - AT - Income TaxGross commission received - Credits found in the SBI bank account - Held that:- Both the assessee as well as his wife had duly credited the gross commission received in the sums of ₹ 8,74,922/- and ₹ 12,19,911/- in their respective income and expenditure account and this figure duly matches with the TDS certificate issued by GTFS to each of them. Hence there cannot be any addition that could be made based on credits found in the SBI bank account when the ld AO himself accepts the fact that the said credits represents only commission income derived by the assessee . Moreover, we find that the assessee himself had already credited the sum of ₹ 8,74,922/- as gross commission received, out of which major portion is included in the total credits sum of ₹ 12,63,839/-. We find that these facts were not examined by the ld AO. Hence we deem it fit and appropriate to set aside these issues to the file of the ld AO for denovo adjudication and frame the assessment afresh in accordance with law. Appeal of the assessee is allowed for statistical purposes.
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