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Addition towards bogus sales commission upheld due to absence of plausible explanation
Case Law Details
- Case Name
- Sarthak Ispat Pvt. Ltd Vs ACIT (ITAT Raipur)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
- Courts
- All ITAT, ITAT Raipur
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Sarthak Ispat Pvt. Ltd Vs ACIT (ITAT Raipur)
ITAT Raipur held that addition of commission @1% on bogus sales transacted upheld as no plausible explanation provided by the assessee. Accordingly, appeal dismissed and order of CIT(A) upheld.
Facts- The assessee is a Pvt. Ltd. company engaged in the business of Iron and Steel. A Search & Seizure Action u/s 132 was conducted on the business and residential premises of Sarthak Group of cases along with the assessee in present case on 26.11.2019. Consequently, assessment proceedings u/s 153A are initiated by issuance of notice on...
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