https://www.taxtmi.com/caselaws?id=376206 The court upheld the application of Sections 68, 69, and 69A of the Income Tax Act to the appellant, determining the substantial deposits in various bank accounts as unexplained cash credits and investments. It found the treatment of the money received as undisclosed income justified, along with adding a 2% commission to the appellant's income. The court dismissed the appellant's arguments regarding internal inconsistency in the ITAT's order, disparity in commission rates, and the alleged perversity, arbitrariness, and unreasonableness of the ITAT's decision. Ultimately, the court ruled in favor of the revenue, upholding the assessment of income and commission rate without costs awarded. en-us Mon, 25 Feb 2019 00:00:00 +0530 Sat, 29 Jun 2019 16:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=376206 The court upheld the application of Sections 68, 69, and 69A of the Income Tax Act to the appellant, determining the substantial deposits in various bank accounts as unexplained cash credits and investments. It found the treatment of the money received as undisclosed income justified, along with adding a 2% commission to the appellant's income. The court dismissed the appellant's arguments regarding internal inconsistency in the ITAT's order, disparity in commission rates, and the alleged perversity, arbitrariness, and unreasonableness of the ITAT's decision. Ultimately, the court ruled in favor of the revenue, upholding the assessment of income and commission rate without costs awarded. Case-Laws Income Tax Mon, 25 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=376206