https://www.taxtmi.com/caselaws?id=281495 The appeal against the addition under section 69 of the Income Tax Act, 1961 was dismissed. The Assessing Officer's decision to add Rs. 5,79,335 based on seized ledger papers was upheld by the ld. CIT(A) and subsequently by the ITAT Jaipur Bench. The ITAT emphasized the need for proper documentation and clarified that only commission income should be considered for assessment, not other amounts like debtors exceeding creditors. The judgment highlighted the importance of complying with legal requirements and maintaining accurate financial records to prevent adverse tax implications. en-us Fri, 01 Dec 2017 00:00:00 +0530 Thu, 20 Jun 2019 22:06:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281495 The appeal against the addition under section 69 of the Income Tax Act, 1961 was dismissed. The Assessing Officer's decision to add Rs. 5,79,335 based on seized ledger papers was upheld by the ld. CIT(A) and subsequently by the ITAT Jaipur Bench. The ITAT emphasized the need for proper documentation and clarified that only commission income should be considered for assessment, not other amounts like debtors exceeding creditors. The judgment highlighted the importance of complying with legal requirements and maintaining accurate financial records to prevent adverse tax implications. Case-Laws Income Tax Fri, 01 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281495