https://www.taxtmi.com/caselaws?id=798946 Circular trading lacking proof of goods movement, commercial purpose, economic justification or independent commercial substance supports an estimated commission addition on turnover. Cash deposits during demonetisation cannot be treated as unexplained money where bank records and cash-flow evidence establish prior withdrawals and the withdrawal-to-redeposit nexus has not been disproved. Deletion of the unexplained-money addition removes the basis for special-rate taxation under section 115BBE. Commission income restricted to a percentage of turnover and assessed under profits and gains of business or profession must be taxed at the rate applicable to business income. en-us Fri, 29 May 2026 00:00:00 +0530 Tue, 15 Sep 2026 08:31:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798946 Circular trading lacking proof of goods movement, commercial purpose, economic justification or independent commercial substance supports an estimated commission addition on turnover. Cash deposits during demonetisation cannot be treated as unexplained money where bank records and cash-flow evidence establish prior withdrawals and the withdrawal-to-redeposit nexus has not been disproved. Deletion of the unexplained-money addition removes the basis for special-rate taxation under section 115BBE. Commission income restricted to a percentage of turnover and assessed under profits and gains of business or profession must be taxed at the rate applicable to business income. Case-Laws Income Tax Fri, 29 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798946