ITAT Mumbai Allowed Telescoping of Estimated Commission Based on Earlier Years

Avance Technologies Limited Vs ACIT (ITAT Mumbai) The appeal was decided by the Income Tax Appellate Tribunal against the order of the Commissioner of Income Tax (Appeals) for Assessment Year 2017–18. The assessee challenged multiple additions made during scrutiny assessment, primarily relating to estimated commission income on alleged accommodation entries, addition of cash deposits during the demonetisation period, denial of telescoping benefit, and application of enhanced tax rates under Section 115BBE of the Income-tax Act, 1961. The Assessing Officer noted that the assessee was part of ...