TaxTMI 
TaxTMI 
2023 (5) TMI 683
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....anation offered the order passed by learned CIT (A) is bad in law and against the principles of natural justice. 2. The order passed by learned CIT (A) is based on surmises and unnatural assumptions. 3. Based on the facts and circumstances of the case and further as per the explanation offered the learned CIT(A) erred in disallowing the payment of commission amounting to Rs. 10,00,000/- to Mr. Alliance Intermediaries & Network P. Ltd. for use of their account. 4. The learned CIT(A) grossly erred in confirming the order of AO towards addition of commission paid to M/s. Alliance Intermediaries & Network Pvt. Ltd. amounting to Rs. 10,00,000/- 5. The learned CIT (A) ought to have given due consideration to the fact that the said amo....
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....er section 143(3) & 147 of the Income Tax Act, 1961 (for short 'the Act') was initiated and in response thereto the assessee has filed revised return on 26.03.2011 declaring income of Rs.4,43,700/-. The Assessing Officer (AO) noticed that the original return was not filed within time and the revised return was held as nonest and invalid. The AO thereafter framed the assessment on 20.03.2014 at the income of Rs.7,58,670/-. 3. The assessee challenged the assessment order before the Ld. CIT(A) which was dismissed. Thereafter the assessee filed the appeal before the Tribunal which has restored the matter back to the AO to make fresh assessment after allowing opportunity to the assessee to cross examine Shri Mukesh Choksi vide order dated 14.06....
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....the reconfirmation of Shri Mukesh Choksi in course of the cross-examination about the dubious nature of the transactions carried out through the said bank account by charging commission @ 0.15%, the action of the AO of concluding that the assessee's claim of sub-brokerage payment of Rs. 10,00,000/- is bogus, cannot be faulted. Moreover, the contention of the assessee that Shri Jayesh Sampath, one of the another Directors of the said concern of Shri Mukesh Choksi, had filed an affidavit accepting having received the said sub-brokerage payment, is not very relevant since it is an open secret that Shri Mukesh Choksi was the mastermind and all the others only worked under his control. As regards, the assessee's claim of expenses on acco....
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....nd that the assessee has paid the amount of Rs.10,00,000/- to M/s. Alliance Intermediaries & Network Pvt. Ltd. on account of commission through banking channel and that one of the directors of M/s. Alliance Intermediaries & Network Pvt. Ltd. has admitted the receipt of said commission amount which is liable to be allowed as deductable expenses. 9. Undisputedly in the first round of litigation the assessee has not claimed deduction of Rs.10,00,000/- claimed to have been paid as brokerage to M/s. Alliance Intermediaries & Network Pvt. Ltd. It is also not in dispute that in the revised return the assessee has claimed this amount of Rs.10,00,000/- having been paid to M/s. Alliance Intermediaries & Network Pvt. Ltd. which has not been considere....