2019 (4) TMI 1936

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..... on of the Assessee would always be subject matter of some guesswork. No precise formula could be applied. Tribunal having taken into consideration the relevant factors, has arrived at a certain percentage of commission that any such kind of activities could be expected to be derived from. This does not give rise to any substantial question of law. Revenue also disputes the expenditure allowed b .....

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..... sh satisfactory explanation with regard to the identity of the parties and the sources and genuineness of the transactions? 2. It is undisputed that under similar circumstances a similar question in case of another assessee in similar business came up for consideration in Income Tax Appeal No.54/17 and connected Appeals. Revenue s Appeals were dismissed on 25/03/2019 making following observati .....

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..... erived from. This does not give rise to any substantial question of law. 5. The Revenue also disputes the expenditure allowed by the Tribunal on such activities. Here also, for the same reasons cited above, in our opinion, no question of law arises. 6. In the result, the Appeals are dismissed. 3. We are conscious that unlike in case No.54/17 and connected Appeals, in the present case, th .....

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