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Commission Agent Cannot Be Taxed on Entire Sale Proceeds Deposited in Bank
Case Law Details
- Case Name
- Marappan Jayalakshmi Vs ITO (ITAT Chennai)
- 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 Chennai
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Marappan Jayalakshmi Vs ITO (ITAT Chennai)
Chennai ITAT Deletes ₹1.28 Crore Addition, Holds Commission Agent Cannot Be Taxed on Entire Sale Proceeds
The Chennai ITAT condoned a delay of 151 days in filing the appeal and considered the assessee’s challenge against additions of ₹1,27,93,500 under Section 69A and ₹4,75,810 under Section 28 for AY 2017-18. The assessment had been reopened based on information regarding cash deposits, TDS on insurance commission, professional fees, commission or brokerage, and cash withdrawals. The assessee explained that she acted as a commission agent for...
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