https://www.taxtmi.com/caselaws?id=409847 The Tribunal dismissed both appeals for the assessment years 2003-04 and 2004-05. It upheld the AO's determination of commission income at 2% and the addition of cash deposits under Section 68 of the Income Tax Act. The Tribunal found that the appellant failed to prove the identity, creditworthiness, and genuineness of the cash deposits, leading to them being considered unexplained. The Tribunal also noted the appellant's non-compliance with ITAT directions regarding the determination of the commission rate. As a result, both appeals were dismissed. en-us Fri, 16 Jul 2021 00:00:00 +0530 Sat, 17 Jul 2021 23:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409847 The Tribunal dismissed both appeals for the assessment years 2003-04 and 2004-05. It upheld the AO's determination of commission income at 2% and the addition of cash deposits under Section 68 of the Income Tax Act. The Tribunal found that the appellant failed to prove the identity, creditworthiness, and genuineness of the cash deposits, leading to them being considered unexplained. The Tribunal also noted the appellant's non-compliance with ITAT directions regarding the determination of the commission rate. As a result, both appeals were dismissed. Case-Laws Income Tax Fri, 16 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409847