The ITAT held that the assessee had been contending from the assessment proceedings that it has disclosed and offered to tax gross profit on bogus sales which has been accounted for in its books of accounts and the commission payment to the broker is therefore duly covered by the quantum of gross profit already offered to tax. The factum thereof has not been disputed by the revenue and at the same time, both the lower authorities have failed to give due effect to the same. On perusal of records, it is noted that the assessee has disclosed gross profit at the rate of 1.60 per cent on bogus sales and therefore, the commission for procuring the bogus purchase and sale so determined by the AO stood covered by the said gross profit and there cannot be any separate addition in this regard. Therefore, the addition sustained by the CIT(A) was directed to be deleted. (AY. 2013-14, 2015-16, 2016-17, 2017-18,  2018-19)