Income estimated at 8% since assessee failed to substantiate its claim of 5%: ITAT Chennai

Suresh Vs ITO (ITAT Chennai)

ITAT Chennai held that estimation of 8% as income on the total receipt by AO is justifiable since assessee failed to substantiate its claim of earning 5% commission on total receipt. Accordingly, addition confirmed and appeal dismissed.

Facts- The assessee has deposited cash of Rs 1,9

Please become a Premium member. If you are already a Premium member, login here to access the full content.