Extended Working Hours not a Valid Reason for Assumption of Additional Income as Commission: ITAT [Read Order]

The case arose from a search and seizure operation conducted under Section 132 of the Income Tax Act at the premises of the assessee and his associates.
ITAT - ITAT ruling - Commission income - ITAT decision - Tax tribunal ruling - TAXSCAN

The Income Tax Appellate Tribunal (ITAT) has ruled that extended working hours alone cannot be a valid basis for assuming additional income in the form of commissions where an addition made by the Assessing Officer (AO) on the grounds of alleged receipt of commissions by the assessee due to his involvement in transactions outside normal…

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