Comission receipts

P.MADHIVADHANAN (TAX PRACTITIONER) (103 Points)

08 January 2017  
Assessee is a commission agent who keeps books of account in cash system.During the year on 2% commission he got goods from supplier for sale Rs.500000 worth. He supplied the goods to a party. That party becomes gave insolvent petition to the court. I want to know in commission agent books of how these txns to be entered or not to be entered. Tax implication on such txns please explain