Live Help
Get News Alerts from Taxmann.com on your desktop.
No Thanks Allow
You have blocked the notification on recent updates. Click below to re-subscribe.
No Thanks
You have already subscribed to Taxmann’s notification.
No Thanks UnSubscribe
Your Session Will Expire in   seconds.
If you do not wish to log-out, choose 'Let me continue'
Reset Session Cancel Session
 

Sec. 68 not applicable on assessee providing accommodation entries on commission basis

June 27, 2020[2020] 117 taxmann.com 292 (Bombay)
856 Views

INCOME TAX : Where assessee accepted cash from customers/beneficiaries and in lieu thereof issued them cheques of slightly lower amount after charging its commission, provisions of section 68 were not applicable and ,thus, entire amount of cash received from customers/beneficiaries could not be added to assessee's taxable income

taxmann.com
Payment
Best view in 1140 x 768