https://www.taxtmi.com/caselaws?id=367146 The court upheld the ITAT's decision to reduce the commission rate from 1.5% to 0.6%, stating the higher rate was based on rough estimates. Regarding the deletion of the sum under Section 68 of the Income Tax Act, the court partially allowed the revenue's appeal, holding that the amount of Rs. 3,99,35,142/- in the assessee's account could be taxed under Section 68 due to unsatisfactory explanations and inconsistent approaches by lower revenue authorities. en-us Wed, 12 Sep 2018 00:00:00 +0530 Thu, 20 Dec 2018 15:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=367146 The court upheld the ITAT's decision to reduce the commission rate from 1.5% to 0.6%, stating the higher rate was based on rough estimates. Regarding the deletion of the sum under Section 68 of the Income Tax Act, the court partially allowed the revenue's appeal, holding that the amount of Rs. 3,99,35,142/- in the assessee's account could be taxed under Section 68 due to unsatisfactory explanations and inconsistent approaches by lower revenue authorities. Case-Laws Income Tax Wed, 12 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=367146