https://www.taxtmi.com/caselaws?id=777320 ITAT MUMBAI - AT allowed the taxpayer's appeal and directed deletion of additions made under s.153C r.w.s.143(3). The tribunal found the AO failed to identify any payer for the alleged off-book receipts and that additions sustained by the Ld. CIT(A) were excessive. Given prevailing thin wholesale trading margins and the assessee's disclosed profit (~0.27%), the tribunal held that the books already reflected any commission income and no further addition was warranted, particularly in absence of evidence of cash payments. Appeals by the assessee were allowed. en-us Fri, 22 Aug 2025 00:00:00 +0530 Thu, 28 Aug 2025 08:32:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777320 ITAT MUMBAI - AT allowed the taxpayer's appeal and directed deletion of additions made under s.153C r.w.s.143(3). The tribunal found the AO failed to identify any payer for the alleged off-book receipts and that additions sustained by the Ld. CIT(A) were excessive. Given prevailing thin wholesale trading margins and the assessee's disclosed profit (~0.27%), the tribunal held that the books already reflected any commission income and no further addition was warranted, particularly in absence of evidence of cash payments. Appeals by the assessee were allowed. Case-Laws Income Tax Fri, 22 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777320