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2016 (10) TMI 538 - GUJARAT HIGH COURT

2016 (10) TMI 538 - GUJARAT HIGH COURT - Restricting addition of commission earned by assessee @1% by Tribunal as against 5% determined by CIT(A) - assessee was facilitating cash deposits and issuing DD/pay orders etc. - Held that:- CIT(Appeals) came to the conclusion that cash did not belong to the assessee but he was merely a commission agent. Since this issue became final, the sole question before the Tribunal was what would be the appropriate rate of commission to be taxed in the hands of th .....

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ted:- 9-8-2016 - AKIL KURESHI AND A.J. SHASTRI, JJ. MR KM PARIKH, ADVOCATE FOR THE APPELLANT MR B S SOPARKAR, ADVOCATE FOR THE OPPONENT ORDER (PER : HONOURABLE MR.JUSTICE AKIL KURESHI) 1. The Government has filed these appeals against the common order of Income Tax Appellate Tribunal dated 2.11.2012 raising the following questions for our consideration : Whether Tribunal has erred in law and on facts in restricting addition of commission earned by assessee @1% as against 5% determined by CIT(A) .....

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ount did not belong to the assessee but he was acting as a commission agent. He adopted profit rate of 5% on the turnover and added the same to the income of the assessee. Against such order of CIT(Appeals), the assessee carried the matter in appeal. Significantly, the department had not gone to the Tribunal and thus accepted the decision of CIT(Appeals). The Tribunal in principle confirmed the view of CIT(Appeals) but reduced the rate of commission to 1% from 5% adopted by the CIT(Appeals) by m .....

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