https://www.taxtmi.com/caselaws?id=344807 The Tribunal allowed the assessee's appeal for AY 2008-09 by condoning the delay and admitting the appeal for hearing. The addition based on peak credit for all assessment years was deleted as the Tribunal found the application of peak credit theory incorrect due to lack of evidence of ownership by the assessee. The Tribunal upheld the addition of commission income made by the AO, reversing the CIT(A)'s deletion of such additions. The Revenue's appeals for AYs 2009-10 and 2010-11 were partly allowed, and the Cross Objections were partly allowed as well. en-us Fri, 31 Mar 2017 00:00:00 +0530 Wed, 28 Jun 2017 08:26:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344807 The Tribunal allowed the assessee's appeal for AY 2008-09 by condoning the delay and admitting the appeal for hearing. The addition based on peak credit for all assessment years was deleted as the Tribunal found the application of peak credit theory incorrect due to lack of evidence of ownership by the assessee. The Tribunal upheld the addition of commission income made by the AO, reversing the CIT(A)'s deletion of such additions. The Revenue's appeals for AYs 2009-10 and 2010-11 were partly allowed, and the Cross Objections were partly allowed as well. Case-Laws Income Tax Fri, 31 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344807