https://www.taxtmi.com/highlights?id=72583 Determination of income - Commission income or trading activity - addition to the returned income by taking 8% net profit on turnover - in case the assessee would have rendered services as a commission agent then it would have merely acted as a facilitator and not carried out purchase/sale transactions on its own account. As the assessee had failed to substantiate its aforesaid claim of having rendered services merely in the capacity as that of a commission agent, therefore, the A.O in our considered view had rightly rejected its said claim. - AT en-us Tue, 17 Oct 2023 09:47:41 +0530 Tue, 17 Oct 2023 09:47:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=72583 Determination of income - Commission income or trading activity - addition to the returned income by taking 8% net profit on turnover - in case the assessee would have rendered services as a commission agent then it would have merely acted as a facilitator and not carried out purchase/sale transactions on its own account. As the assessee had failed to substantiate its aforesaid claim of having rendered services merely in the capacity as that of a commission agent, therefore, the A.O in our considered view had rightly rejected its said claim. - AT Highlights Income Tax Tue, 17 Oct 2023 09:47:41 +0530 https://www.taxtmi.com/highlights?id=72583