This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Search Case – Commission Income Reduced, 69C Deleted & Cash Addition Shifted to Correct Year
Case Law Details
- Case Name
- Shirish Chandrakant Shah Vs ACIT (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2015-16
- Courts
- All ITAT, ITAT Mumbai
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Advertisement
Shirish Chandrakant Shah Vs ACIT (ITAT Mumbai)
Search Case – Commission Income Reduced, 69C Deleted & Cash Addition Shifted to Correct Year
Pursuant to search u/s 132, AO treated assessee as accommodation entry provider and made multiple additions including commission @1.75%, cash in locker ₹1.18 Cr, ₹28L cash & 69C expenditure. CIT(A) confirmed additions.
ITAT held:
153D approval valid – no evidence of mechanical approval
Commission income – partly sustained but reduced
Activity of accommodation entries upheld
However, internal/circular transaction...
Author Info
