Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights June 2023 Year 2023 This

Estimation of commission income - Providing Accommodation ...

Income Tax

June 12, 2023

Estimation of commission income - Providing Accommodation entries - Unexplained deposits/loans - when a person is engaged in the clandestine activities of providing accommodation entries he only charges commission whereas the cash belongs to the person who is taking the accommodation entry - Order of CIT(A) deleting the additions, beyond the commission charged by the assessee on providing accommodation entries, sustained - AT

 

View Source

 


 

You may also like:

  1. Protective addition on account of unexplained credit entries appearing in the bank account - assessee company is a conduit - addition on account of unaccounted...

  2. Addition u/s 68 - Estimation of commission on accommodation entries - Though, it can be accepted that in case of accommodation entry provider only commission can be...

  3. Accommodation entries - Estimation of income - the addition cannot be made on the basis of any hypothesis presumption albeit it has to be based on evidences or material...

  4. Addition relating to alleged commission / interest - even if the loan provided by the family members of the assessee to Bajaj Group is not actual loan and is only...

  5. Unexplained advance - Assessee has to prove its claim that it has rotated money of the beneficiaries and provided accommodation entries to the beneficiaries against...

  6. Unexplained cash credits u/s 68 - accommodation entries - The cash amounts deposited by the customers i.e., the beneficiaries had been accounted for in the assessment...

  7. Addition u/s 68 - bogus LTCG - share capital and share premium were merely paper credit entries - receipt of accommodation entries in lieu of commission paid - The...

  8. Disallowance of sub-contract payments for land development expenses - accommodation entries for income and expenditure both - Assessee have not executed any work except...

  9. Estimation of commission income on accommodation entries - while deciding identical issue in assessee’s own case, the Tribunal, has upheld estimation of commission...

  10. Addition of commission income - accommodation entry provider - commission income with respect to the transaction entered into by the entry operator are required to be...

  11. Estimation of income - “real income/commission income” - Unexplained deposits in bank account - the assessee is engaged in the business of “cheque discounting” in order...

  12. Addition on account of commission income for obtaining accommodation entries - addition cannot be made merely on the presumption that family concerns have admitted...

  13. Accommodation entries - Entry providing business - commission on accommodation entries by way of purchase and sale bills to the needy parties - only commission is...

  14. Estimation of rate of commission earned on the accommodation cheques - estimation of commission @3% on cheque amount and 20% on expenditure will be fair and reasonable - AT

  15. Alleged accommodation entries - allegation of providing bills and entries and charging commission for his services @ 0.25% of the aggregate transactions - no addition -...

 

Quick Updates:Latest Updates