AdvertisementShankar Lal Vs ITO (ITAT Delhi) Delhi ITAT: Entire Bogus Purchase/Sales Amount Cannot Be Taxed When Books & Sales Are Not Rejected; Only 0.5% Commission Income Taxable The Delhi ITAT granted substantial relief to an assessee engaged as a kachha aadti/commission agent in food grains, holding that where the regular books, audited accounts, stock records and corresponding sales have not been rejected, the entire amount of allegedly bogus transactions cannot be treated as unexplained income. For AY 2018-19, the AO had made an addition of ₹14,86,489, treating sales made to a particular party ...