https://www.taxtmi.com/caselaws?id=776181 The ITAT Delhi upheld the AO's treatment of the assessee's transactions as bogus accommodation entries and agreed with the CIT(A)'s direction to assess the assessee on a profit element basis. While the assessee contended that commission should be limited to 0.15%-0.5%, the tribunal found no binding precedent to support this and noted the Revenue failed to justify the 2.5% profit element adopted by the CIT(A). The tribunal reduced the profit element from 2.5% to 1%, clarifying this adjustment is a case-specific estimation and shall not be treated as precedent. en-us Mon, 30 Jun 2025 00:00:00 +0530 Wed, 06 Aug 2025 08:19:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776181 The ITAT Delhi upheld the AO's treatment of the assessee's transactions as bogus accommodation entries and agreed with the CIT(A)'s direction to assess the assessee on a profit element basis. While the assessee contended that commission should be limited to 0.15%-0.5%, the tribunal found no binding precedent to support this and noted the Revenue failed to justify the 2.5% profit element adopted by the CIT(A). The tribunal reduced the profit element from 2.5% to 1%, clarifying this adjustment is a case-specific estimation and shall not be treated as precedent. Case-Laws Income Tax Mon, 30 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776181