Commission @2% of accommodation entries is as per prevailing market rate and hence sustainable

OPG Securities Pvt. Ltd. Vs DCIT (ITAT Delhi) ITAT Delhi held that commission taxed @2% of the amount of accommodation entries provided by the assessee has not been made on ad hoc basis, however, the same is as per prevailing market rate. Accordingly, the addition is sustained. Facts- The assessee, a private limited company incorporated under the Companies Act, 1956 is a registered stock broker at National Stock Exchange (NSE) & Bombay Stock Exchange (BSE) and engaged in trading in shares, securities, derivatives, currency, futures & option (F&O), etc., through algorithmic trading,...