https://www.taxtmi.com/caselaws?id=461044 ITAT Surat held that gross commission income should be estimated only on sales turnover, not on both purchase and sales turnover. Following precedent in Sanjay Kumar Choudhary (HUF) case, the Tribunal directed AO to estimate addition at 0.05% of total sales turnover only. The same rate was applied to other assessees including three private limited companies. The assessee's appeal was partly allowed with this modification to the estimation method. en-us Thu, 23 Nov 2023 00:00:00 +0530 Sat, 08 Mar 2025 10:47:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461044 ITAT Surat held that gross commission income should be estimated only on sales turnover, not on both purchase and sales turnover. Following precedent in Sanjay Kumar Choudhary (HUF) case, the Tribunal directed AO to estimate addition at 0.05% of total sales turnover only. The same rate was applied to other assessees including three private limited companies. The assessee's appeal was partly allowed with this modification to the estimation method. Case-Laws Income Tax Thu, 23 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461044