Reopening of assessment - commission income on the turnover of ...

Assessment Reopening Denied for Marble Traders Due to Unjustified Gross Profit Shift and Lack of Expense Evidence.

December 20, 2023

Case Laws Income Tax AT

Reopening of assessment - commission income on the turnover of amount in the bank account which was used to facilitate for the marble traders - the swing from charging commission to charge the GP as marble trader has no basis and are contrary to the facts already on record. - we see no reason to consider the claim of the 25 % as allowable and therefore, the same is not be considered as expenses in the absence of any details or evidence. - AT

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Reopening of assessment - commission income on the turnover of ...

Assessment Reopening Denied for Marble Traders Due to Unjustified Gross Profit Shift and Lack of Expense Evidence.

December 20, 2023

Case Laws Income Tax AT

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