2018 (6) TMI 1811

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... E R Per Joginder Singh(Judicial Member) The Revenue is aggrieved by the impugned order dated 09/11/2016 of the Ld. First Appellate Authority, Mumbai, directing the Assessing Officer to estimate commission at the rate of 0.1% of the sales turnover which works out to Rs.3,12,764/- instead of 2% and thereby granting relief of Rs.59,42,474/- without appreciating the detail facts, relying upon t....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....d the copy of the assessment order dated 20/03/2015 in the case of Smt. Kalawati Negi for Assessment Year 2011-12. This factual matrix was not controverted by the Ld. DR. 2.1. We have considered the rival submissions and perused the material available on record. The facts, in brief, are that the assessee is an individual having salary income from M/s Shirdi Industries Ltd. and also carrying out....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....peal) has reproduced the observation made in the assessment order. Finally, the Ld. Commissioner of Income Tax (Appeal) reduced the estimated commission @ 0.1% against 2% made by the Ld. Assessing Officer. The Revenue is aggrieved and is in appeal before this Tribunal. 2.2. If the observation made in the assessment order, leading to addition made to the total income, conclusion drawn in the imp....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... to increase the turnover of the group company. It was also further admitted that there was no movement of goods and the transactions were shown of doing circular trading within the group merely to increase the turnover. The Ld. Commissioner of Income Tax (Appeal) has mentioned the case of Smt. Kalawati Negi, who was also an employee of the same group and showed similar transaction to jack up the ....