https://www.taxtmi.com/caselaws?id=761441 ITAT Mumbai deleted additions made under section 69C for notional commission expenses and non-genuine purchases. The AO had added 2% commission expenses, which CIT(A) reduced to 0.25%. However, ITAT followed its coordinate bench decision in Abans Commodities case involving assessee's sister concern, which deleted similar additions for non-genuine profit/loss in illiquid options and consequent notional commission. Since facts and legal issues were identical with no contradictory material presented, ITAT deleted both additions completely. en-us Tue, 22 Oct 2024 00:00:00 +0530 Sat, 09 Nov 2024 11:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761441 ITAT Mumbai deleted additions made under section 69C for notional commission expenses and non-genuine purchases. The AO had added 2% commission expenses, which CIT(A) reduced to 0.25%. However, ITAT followed its coordinate bench decision in Abans Commodities case involving assessee's sister concern, which deleted similar additions for non-genuine profit/loss in illiquid options and consequent notional commission. Since facts and legal issues were identical with no contradictory material presented, ITAT deleted both additions completely. Case-Laws Income Tax Tue, 22 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761441