VALLURUPALLI VARUN DEV,VISAKHAPATNAM vs. THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-3(1), VISAKHAPATNAM

ITA 750/VIZ/2025Status: DisposedITAT Visakhapatnam09 September 2026AY 2022-235 pages
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What did the Tribunal hold?

The Tribunal held that the AO erred in applying Section 69C for disallowing commission expenses claimed against capital gains. The disallowance should have resulted in an enhancement of capital gains, not an addition under Section 69C.

What were the facts?

The assessee claimed a deduction of Rs. 10,00,000/- towards commission expenses while computing capital gains. The AO disallowed this commission and made additions under Section 69C, which was upheld by the CIT(A).

What were the issues?

Whether commission expenses claimed against capital gains can be disallowed and added under Section 69C. The correct head of income for such disallowance.

Which sections of the Income-tax Act were involved?

Section 69C

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, VISAKHAPATNAM BENCH, VISAKHAPATNAM

PER MANJUNATHA G., ACCOUNTANT MEMBER :

This appeal is filed by the Assessee against the order of the Commissioner of Income Tax Appeals [Ld.CIT(A)], National Faceless Appeal Centre (NFAC), Delhi vide DIN: ITBA/NFAC/S/250/2025- 26/1081064943(1) dated 23.09.2025 for the Assessment Year 2022- 23. 1 Vallurupalli Varun Dev

2.

The brief facts of the case are that, the assessee is an individual, filed his return of income for

The order continues below.

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