AI Drafter - (New and Powerful) 
Generate professional replies, appeals, opinions to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter. 
TaxTMI 
TaxTMI 
Home / 
Section 68 Cash Credits: No Income Addition for Assessee Earning Commissions; Beneficiary Deposits Already Assessed.
X X X X Extracts X X X X
X X X X Extracts X X X X
....Unexplained cash credits u/s 68 - accommodation entries - The cash amounts deposited by the customers i.e., the beneficiaries had been accounted for in the assessment orders of these beneficiaries. Therefore, question of adding such cash credits to the income of the assessee, more so when the assessee was only concerned with the commission earned on providing accommodation entries does not arise.....