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2009 (3) TMI 76 - HC - Income TaxCommission Agent agreements with foreign company was in Individual names of the MD – commission was booked in the books of account of the company – an investigation revealed that entire exercise has been undertaken by the Company to absolve Shri Amin (MD) from violation of Foreign Exchange Regulation Act - receipt of the payment having been acknowledged by authorized person of the assessee Company – held that entire amount of commission is taxable in the hands of company.
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