Home Highlights June 2016 Year 2016 This

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1. Disallowance of commission paid - excessive expense on commission - the average rate of commission paid by the assessee to others in respect of rice was 20, but rate of...

2. Estimation of commission income - Providing Accommodation entries - Unexplained deposits/loans - when a person is engaged in the clandestine activities of providing...

3. Addition u/s 68 - Estimation of commission on accommodation entries - Though, it can be accepted that in case of accommodation entry provider only commission can be...

4. Estimation of rate of commission earned on the accommodation cheques - estimation of commission @3% on cheque amount and 20% on expenditure will be fair and reasonable - AT

5. Rate of commission on the business of providing accommodation entry - It is just and proper to estimate the average commission @ 0.30% (30 paise to ₹ 1 per ₹...

6. Addition u/s 68 - assessee has requested either estimate the commission income on such accommodation transactions or tax peak of the cash deposits - AT

7. Addition relating to alleged commission / interest - even if the loan provided by the family members of the assessee to Bajaj Group is not actual loan and is only...

8. Assessment of commission income of providing accommodation entires - CIT(A) estimated the income @5% out of Hawala transactions - an estimate of 2.5% of the total...

9. Eligibility criteria for GST exemption on hostel accommodation services, the requirement for GST registration based on turnover, the applicable GST rate for hostel...

10. Disallowance of sub-contract payments for land development expenses - accommodation entries for income and expenditure both - Assessee have not executed any work except...

11. Fall in GP rate - increase in cost of purchase - 95% of sales were made to related parties - Since no explanation was offered by the assessee before the AO regarding...

12. Revision u/s 263 - undisclosed income of the firm - Having arrived at the true nature of assessee's activities of that of an accommodation entry provider, the AO has...

13. Disallowance of commission expenses - income from providing accommodation entries - Weightage rate of commission - the objections of the assessee that commission...

14. The case pertains to allegations of money laundering, charging of illegal commissions, sale of unaccounted illicit country liquor using holograms, and payment of annual...

15. Benefit of telescoping the commission income with the income declared in the return - assessee is only an accommodation entry provider - - only estimated commission @1%...