https://www.taxtmi.com/caselaws?id=335215 ITAT Ahmedabad set aside the issue of commission income from cheque discounting to the AO for fresh verification, directing that additions at 0.1% be made only if relevant bank transactions exist. Additions on alleged textile business income were deleted for lack of evidence beyond mere existence of seals. Additions for unexplained investments shown as receivables and under section 68, based on loose papers and coded entries, were deleted as the assessee's explanations were found plausible and supported by books and confirmations. The addition for advance towards property was deleted as it was recorded in books and the survey date did not require updated entries. Investments made through other persons were held duly recorded, and related additions were also deleted. en-us Fri, 02 Sep 2016 00:00:00 +0530 Fri, 21 Nov 2025 11:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335215 ITAT Ahmedabad set aside the issue of commission income from cheque discounting to the AO for fresh verification, directing that additions at 0.1% be made only if relevant bank transactions exist. Additions on alleged textile business income were deleted for lack of evidence beyond mere existence of seals. Additions for unexplained investments shown as receivables and under section 68, based on loose papers and coded entries, were deleted as the assessee's explanations were found plausible and supported by books and confirmations. The addition for advance towards property was deleted as it was recorded in books and the survey date did not require updated entries. Investments made through other persons were held duly recorded, and related additions were also deleted. Case-Laws Income Tax Fri, 02 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335215