2025 (2) TMI 605

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... AO. We set aside the order of the CIT (A) and direct the ld. AO to make the addition at the rate of 0.15%. The appeal of the assessee is allowed.
Shri Rajesh Kumar, AM And Shri Sonjoy Sarma, JM For the Assessee : Shri Arvind Agarwal, AR For the Revenue : Shri Rama Choudhary, DR ORDER PER RAJESH KUMAR, AM: These are appeals preferred by the assessee against the order of the National Faceless Appeal Centre, Delhi (hereinafter referred to as the "Ld. CIT(A)"] dated 26.07.2023 for the AY 2012-13. 1034/KOL/2024 02. The only issue raised by the assessee in ground nos. 2 to 5, is against the confirmation of addition by the ld. CIT (A) as made by the ld. AO on account of commission at the rate of 1% on the total turnover which ought to .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... with a total income of ₹ 3,59,470/-. The ld. AO completed the assessment on an income of ₹ 27,55,969/- by making an addition of ₹ 23,96,493/- as in respect of undisclosed income. According to the ld. AO, the assessee has provided the accommodation entries totaling to ₹ 23,96,49,307/- and accordingly, the addition at the rate of 1% was made which worked out to 23,96,493/-. The said order was challenged before the ld. CIT (A), however, the ld. CIT (A) confirmed the finding of the ld. Assessing Officer. After perusal of the decision of the co-ordinate Bench in assessee's own case for A.Y. 2010-11, we find that the co-ordinate bench in ITA No. 1330/KOL/2023 for A.Y. 2010-11 vide order dated 31.12.2024, under similar fac .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... O is directed to compute the rate the commission @0.15% and not 1%. In the result, the appeal of the assessee is allowed." 06. We therefore, respectfully following the order of the co-ordinate Bench, set aside the order of the ld. CIT (A) and direct the ld. AO to make the addition at the rate of 0.15%. The appeal of the assessee is allowed. 1331/KOL/2023 07. The issue raised in this appeal is similar to one as decided by us in ITA No. 1034/KOL/2024. Accordingly, our decision would apply mutatis mutandis to this appeal of the assessee in ITA No.1331/KOL/2024. Hence, the appeal of assessee in ITA No.1331/KOL/2024 is allowed. 08. In the result, both the appeals of the assessee are allowed. Order pronounced in the open court on 13.02.202 .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X