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2014 (10) TMI 664 - HC - Income TaxEntitlement for claim of deduction u/s 35B Commission paid to Shri C.G.S. Mani - Whether the Tribunal was rightly in holding that the commission paid by the assessee to Shri C.G.S. Mani amounted to maintenance of an agency within the meaning of clause (iv) of section 35B(1)(b) Held that:- The Tribunal was rightly of the view that the agreement with Shri Mani records that Shri Mani is appointed as representative of the assessee for export to the countries mentioned in the agreement - He has been given suitable authority to negotiate and conclude any business and trade contracts with the organisation in the countries for supply of stores and goods to the countries mentioned in the agreement and/or for goods and stores to be supplied by the countries mentioned in the agreement to Indian parties - assessee claimed weighted deduction on account of proportionate administrative expenses relying upon Commissioner of Income Tax V/s. Stepwell Industries Ltd. [1997 (8) TMI 5 - SUPREME Court] - the activity carried would come within the purview of the provision and, therefore, the weighted deduction was allowable thus, the order of the Tribunal is to be upheld Decided against revenue.
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