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The ITAT partially allowed the assessee's appeal concerning bogus accommodation sales bill entries. The Tribunal held that, given the beneficiary of the accommodation entries was identified based on the survey, the commission rate on such entries should be fixed at 5%, aligning with precedent. The Assessing Officer's application of a 10% commission rate lacked justification, and the Commissioner's order was accordingly set aside to the extent of the commission rate. The AO was directed to apply a 5% commission on the accommodation entries instead of 10%. The Department's stand supporting the 10% rate was rejected, and the appeal was allowed in part.
The ITAT partially allowed the assessee's appeal concerning bogus accommodation sales bill entries. The Tribunal held that, given the beneficiary of the accommodation entries was identified based on the survey, the commission rate on such entries should be fixed at 5%, aligning with precedent. The Assessing Officer's application of a 10% commission rate lacked justification, and the Commissioner's order was accordingly set aside to the extent of the commission rate. The AO was directed to apply a 5% commission on the accommodation entries instead of 10%. The Department's stand supporting the 10% rate was rejected, and the appeal was allowed in part.
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