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2021 (7) TMI 445 - ITAT HYDERABADEstimation of income - assessee was only earning commission income - addition by the Ld. AO with respect to the cash credited in the bank account of the assessee - HELD THAT:- We are of the view that, the above mentioned estimate of commission income earned by the assessee during the relevant assessment year seem to be reasonable. Hence, we are of the considered view that on the overall, the assessee’s income should be estimated and assessed at ₹ 32,00,000/- (by r/o ₹ 31,38,600/-) worked by us hereinabove. Accordingly, we hereby direct the Ld. AO to assess the net taxable income of the assessee at ₹ 32,00,000/- as against the returned income of the assessee of ₹ 7,00,200/-. Consequently, the returned income of the assessee ₹ 7,00,200/-, the addition made by the Ld. AO of ₹ 94,04,800/- and the enhancement of the income by the Ld. CIT (A) of ₹ 5,76,98,279/- shall stand deleted. Appeal of the assessee is partly allowed
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