Expense Disallowance Reduced to 10% of Turnover Due to High Estimation

Headstrong Ventures Vs ITO (ITAT Delhi) The assessee, a partnership firm, filed an appeal before the Income Tax Appellate Tribunal (ITAT) against the order of the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, dated 07.06.2024, for Assessment Year 2017–18. The case originated from information received through the NMS portal indicating that the assessee had received a total of ₹1,18,05,785 from various parties under commission, brokerage, professional or technical service fees, and contractual receipts, but had not filed a return of income. The Assessing Officer (AO)...