https://www.taxtmi.com/caselaws?id=188005 The Tribunal upheld the addition of commission income at a rate of 0.6% of turnover, rejected the books of account under Section 145, allowed ad-hoc deduction of 5% for expenses, restored the issue of deduction under Section 88 for verification, and directed verification of housing loan interest claims. It also restored issues of business losses, speculative income, deductions under Chapter VI-A, and treatment of dividend income to the Assessing Officer for re-examination based on evidence. The judgment stressed the importance of evidence and adherence to statutory provisions in tax assessments. en-us Wed, 14 Sep 2016 00:00:00 +0530 Fri, 01 Jan 2021 22:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188005 The Tribunal upheld the addition of commission income at a rate of 0.6% of turnover, rejected the books of account under Section 145, allowed ad-hoc deduction of 5% for expenses, restored the issue of deduction under Section 88 for verification, and directed verification of housing loan interest claims. It also restored issues of business losses, speculative income, deductions under Chapter VI-A, and treatment of dividend income to the Assessing Officer for re-examination based on evidence. The judgment stressed the importance of evidence and adherence to statutory provisions in tax assessments. Case-Laws Income Tax Wed, 14 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188005