https://www.taxtmi.com/caselaws?id=409603 The Tribunal allowed the assessee's appeal, estimating income at Rs. 32,00,000 and annulling the original addition and enhancement. The returned income, AO's addition, and CIT(A)'s enhancement were all deleted. The Tribunal considered the nature of the business as a financial intermediary, earning commission income, and found the previous additions illogical. The appeal was partly allowed, directing the AO to assess the net taxable income at Rs. 32,00,000, resulting in a favorable outcome for the assessee. en-us Mon, 28 Jun 2021 00:00:00 +0530 Tue, 13 Jul 2021 10:35:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409603 The Tribunal allowed the assessee's appeal, estimating income at Rs. 32,00,000 and annulling the original addition and enhancement. The returned income, AO's addition, and CIT(A)'s enhancement were all deleted. The Tribunal considered the nature of the business as a financial intermediary, earning commission income, and found the previous additions illogical. The appeal was partly allowed, directing the AO to assess the net taxable income at Rs. 32,00,000, resulting in a favorable outcome for the assessee. Case-Laws Income Tax Mon, 28 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409603