Prabha Trading Corporation Vs. Income Tax Officer, Ward-40(1), Kolkata
Parties Involved
Facts Summary
The assessee, Prabha Trading Corporation, filed an income tax return for Assessment Year 2016-17 declaring a total income of Rs 236,280/-. The return was selected for limited scrutiny under CASS. The assessee is a distributor of paper for paper mills in India and has two types of transactions with these mills. The assessment was made at a total income of Rs 58,61,610/- by making additions on account of commission expenses and suppression of commission income. Aggrieved by the assessment order, the assessee appealed to the Commissioner of Income Tax (Appeals)-NFAC, Delhi, who deleted the addition of Rs 35,66,813/- on account of excess commission paid but confirmed other additions, including Rs 19,50,803/- on account of undisclosed commission income. The assessee then filed an appeal before the Tribunal.…
Decision in favour of
Assessee
Legal Issues
- 1. Confirmation of addition of Rs. 35,66,813/- on account of excess commission paid.
- 2. Confirmation of addition of Rs. 19,50,803/- on account of undisclosed commission income.
- 3. General grounds for amendment or alteration of any grounds of appeal.
Judgment Outcome
Decided in favour of Assessee.
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