ITAT Directs AO to Tax Only 1% Commission If PAN Misused in Fraudulent Forex Transactions:
The Income Tax Appellate Tribunal (ITAT) Delhi has restored a reassessment matter to the AO after the assessee claimed that its PAN was fraudulently used by a forex company to carry out foreign currency transactions.
ITAT remands reassessment
Saima
Jul 1, 2026Premium
ITAT Directs AO to Tax Only 1% Commission If PAN Misused in Fraudulent Forex Transactions
The Income Tax Appellate Tribunal (ITAT) Delhi has restored a reassessment matter to the AO after the assessee claimed that its PAN was fraudulently used by a forex company to carry out foreign currency transactions.
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Saima
Content Writer
Saima is a Law graduate with a passion for research and content writing. She writes for Finance, Taxation and Legal Updates at Studycafe.in, simplifying complex legal decisions by the ITAT, High Court, AAR and GSTAT into uncomplicated and clear explanations.
StudyCafe
Delhi, Delhi, India
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