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2014 (6) TMI 507 - AT - Income TaxDisallowance of commission paid - illicit payment - surcharges paid directly or indirectly to Iraq - Exports made to Iraq under "Food for Oil Programme" – Held that:- The United Nations’ sanction was with reference to payment made to Iraq Government by suppliers and not the payment made to intermediaries - commission paid by the assessee are duly approved by the Reserve Bank of India and the payments were made to a third party - The Volker Commission report had discussed about the utilisation of money by the recipient of the commission received as commission with the government and parting of such commission with the Government of Iraq – but, there is no finding at all by the tax authorities that the third party had rendered any services and the commission paid to the third party was diverted to the Government of Iraq – Following NSIL EXPORTS LTD. [2014 (6) TMI 496 - ITAT MUMBAI] – thus, the disallowance made by the AO is not in accordance with law – Decided partly in favour of Assessee.
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