https://www.taxtmi.com/caselaws?id=434811 The Assessing Officer reopened the assessment under section 147 of the Act based on cash deposits. The Commissioner of Income Tax (Appeals) upheld the reopening. The commission income was estimated at 2% of total receipts by the CIT(A) due to lack of justification for the rate claimed. The Tribunal affirmed the CIT(A)'s decision, dismissing the appeal as the assessee did not challenge findings or appear during hearings. The Tribunal upheld the estimation of commission income at 2%, based on the Revenue's submissions and CIT(A)'s decision. en-us Fri, 24 Feb 2023 00:00:00 +0530 Sat, 04 Mar 2023 07:28:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434811 The Assessing Officer reopened the assessment under section 147 of the Act based on cash deposits. The Commissioner of Income Tax (Appeals) upheld the reopening. The commission income was estimated at 2% of total receipts by the CIT(A) due to lack of justification for the rate claimed. The Tribunal affirmed the CIT(A)'s decision, dismissing the appeal as the assessee did not challenge findings or appear during hearings. The Tribunal upheld the estimation of commission income at 2%, based on the Revenue's submissions and CIT(A)'s decision. Case-Laws Income Tax Fri, 24 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434811