Sale and Purchase Transaction in Own account does not Meet Facilitation as Commission Agent: ITAT upholds Determination of Income u/s 44D of Income Tax Act [Read Order]

By Fathima Karama A.M - On November 9, 2023 6:00 pm - 2 mins read
Determination of Income - ITAT upholds - Income Tax Act - Income Tax - ITAT - ITAT News - Tax News - Sale and Purchase - TAXSCAN

The Raipur Bench of Income Tax Appellate Tribunal (ITAT) upheld the determination of income under Section 44D of the Income Tax Act 1961 holding that the sale and purchase transaction in its own account would not meet the facilitation as the commission agent. The assessee, Naresh Kumar & Sons HUF had e-filed its return of…

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