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Income Tax - Highlights / Catch Notes

Home Highlights November 2023 Year 2023 This

Undisclosed commission income - To be taxed as accommodation ...


Taxation of Undisclosed Commission: Court Mandates Consistent Treatment of All Transactions in Investigations.

November 29, 2023

Case Laws     Income Tax     AT

Undisclosed commission income - To be taxed as accommodation entry or only commission income on such transactions - The assessee cannot blow hot and cold at the same time and assert that the sum identified by the Investigating authorities be treated as tainted and the rest of the transactions be accepted at its face value to be sacrosanct. - AT

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