https://www.taxtmi.com/caselaws?id=447187 ITAT Jaipur upheld CIT(A)'s decision that assessee's income should be taxed as commission rather than gross profit from marble trading. Assessee operated bank accounts facilitating transactions for marble traders, charging commission of Rs. 100-300 per lakh. AO initially agreed assessee was facilitator but later attempted to tax as marble trader without basis. ITAT found no evidence of trading establishment or infrastructure. However, ITAT rejected CIT(A)'s 25% expense allowance from commission income due to lack of supporting evidence or details. en-us Thu, 30 Nov 2023 00:00:00 +0530 Tue, 19 Dec 2023 18:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=447187 ITAT Jaipur upheld CIT(A)'s decision that assessee's income should be taxed as commission rather than gross profit from marble trading. Assessee operated bank accounts facilitating transactions for marble traders, charging commission of Rs. 100-300 per lakh. AO initially agreed assessee was facilitator but later attempted to tax as marble trader without basis. ITAT found no evidence of trading establishment or infrastructure. However, ITAT rejected CIT(A)'s 25% expense allowance from commission income due to lack of supporting evidence or details. Case-Laws Income Tax Thu, 30 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=447187