https://www.taxtmi.com/caselaws?id=304595 Income from an accommodation-entry business is assessable only in the hands where it is substantively taxable, and generally only the net commission income is relevant. Where cash deposits or turnover in one assessee's bank account may already have been included in the main operator's receipts, the figures must be reconciled before any separate addition is sustained; if not fully accounted for, only the unreconciled balance can be taxed at the net commission rate applied in the connected matter. Penalty under section 271(1)(c) cannot stand on a merely protective addition and depends on the final substantive taxability determination. en-us Mon, 15 Oct 2018 00:00:00 +0530 Sat, 08 Oct 2022 13:10:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304595 Income from an accommodation-entry business is assessable only in the hands where it is substantively taxable, and generally only the net commission income is relevant. Where cash deposits or turnover in one assessee's bank account may already have been included in the main operator's receipts, the figures must be reconciled before any separate addition is sustained; if not fully accounted for, only the unreconciled balance can be taxed at the net commission rate applied in the connected matter. Penalty under section 271(1)(c) cannot stand on a merely protective addition and depends on the final substantive taxability determination. Case-Laws Income Tax Mon, 15 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304595