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TMI Blog2022 (10) TMI 475X X X X Extracts X X X X X X X X Extracts X X X X ..... n confirmed in the hands of Bhanwarlal Jain Group would ipso facto make protective addition unsustainable. Merely for the reason that the rate of commission determined by the Tribunal at lower rate is not acceptable to Revenue would not give the Revenue key for protracted litigation in the case of assessee wherein the additions were made only on protective basis. A perusal of the impugned order cl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t appeals is the addition on account of undisclosed commission income on protective basis. In the assessment year 2008-09 the addition of Rs.8,06,990/- has been made and in assessment year 2009-10 the addition of Rs.1,12,379/- has been made on protective basis. Substantive addition has been made in the hands of Bhanwarlal Jain Group. The ld.Authorized Representative of the assessee submitted that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oup but the Tribunal has substantially reduced the rate of commission. The Department has not accepted the order of Tribunal in restricting the percentage of commission and is further filing appeal before the Hon'ble Bombay High Court. The CIT(A) has rightly restricted the addition to the extent of difference between the addition confirmed by the Tribunal and percentage of commission applied b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l Jain Group is tabulated herein under: No. Nature of Transaction Estimation by Tribunal in the case of Bhanwarlal M. Jain 1. Import transaction by Shri Bhanwarilal M. Jain on behalf of others @ 0.2% 2. Accommodation entries of Bogus purchases ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the issue alive, although on merits the additions in the hands of assessee does not survive. Thus, in view of the facts mentioned above, we find merit in the appeal of assessee for the respective assessment years, hence, the same are allowed. 5. In the result, impugned order is set-aside and appeal by the assessee for assessment year 2008-09 and 2009-10 are allowed. Order pronounced in the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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