Addition towards bogus sales commission upheld due to absence of plausible explanation

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 25.01.2021. In r...