https://www.taxtmi.com/caselaws?id=444462 The appeal was dismissed by the Tribunal, which upheld the decisions of the AO and CIT(Appeals). The assessee's claim of operating solely as a commission agent was rejected due to insufficient evidence, and the Tribunal agreed with the conclusion that the assessee was engaged in trading activities. The income was assessed under Sec. 44AD at 8% of turnover, with an additional Rs. 3,91,016 added to the returned income. The Tribunal also noted that the failure to consider the written submission did not affect the outcome, as the primary issue was the nature of the business activity. en-us Fri, 10 Mar 2023 00:00:00 +0530 Tue, 17 Oct 2023 09:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444462 The appeal was dismissed by the Tribunal, which upheld the decisions of the AO and CIT(Appeals). The assessee's claim of operating solely as a commission agent was rejected due to insufficient evidence, and the Tribunal agreed with the conclusion that the assessee was engaged in trading activities. The income was assessed under Sec. 44AD at 8% of turnover, with an additional Rs. 3,91,016 added to the returned income. The Tribunal also noted that the failure to consider the written submission did not affect the outcome, as the primary issue was the nature of the business activity. Case-Laws Income Tax Fri, 10 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444462