Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2004 (8) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2004 (8) TMI 15 - HC - Income TaxPayment of commission to sole selling agents – disallowance - Tribunal has found that the firm had been assessed in the status of a registered firm. Thus, it is a genuine firm. It has further found that the firm had rendered service on account of which the assessee had earned huge profits. The agreement entered into by the assessee with the firm as also the payment of commission has not been doubted. In view of the findings recorded by the Tribunal, which are based on appreciation of evidence and material on record, it cannot be said that the appointment and payment of commission to the said firm was (not) wholly and exclusively for the purpose of business of the assessee-company. - Tribunal was in law justified in deleting the additions on account of commission to the sole selling agents – further, Tribunal was legally correct in deleting the disallowance of Rs. 3,401 and Rs. 3,460 being interest paid to the trust in respect of contribution to the provident fund
|