Addition u/s 68 - Addition as income of brokerage/commission @ ...

Income Tax

February 17, 2024

Addition u/s 68 - Addition as income of brokerage/commission @ 2% of cash deposits as accommodation entry provider - onus to prove - The High Court concluded that the respondent had disclosed complete details of the bank accounts and transactions, and the income was correctly determined as brokerage/commission on the cash deposits. - The peak credit adopted by the ITAT to determine income of the assessee does not require interference. - The order of ITAT deleting the additions confirmed.

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Addition u/s 68 - Addition as income of brokerage/commission @ ...

Income Tax

February 17, 2024

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