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1974 (1) TMI 6 - HC - Income TaxAssessee company agreed to pay commission to agent. The commission was credited in the accounts every month. Subsequently it was mutually agreed between the company and the agent that no commission was to be paid due to commercial expediency. Accordingly the entries in accounts were reversed - " Whether, on the facts and in the circumstances of the case, the amount of Rs. 2,04,947 was allowable as deduction of selling commission? " - I answer the question referred to this court in the negative, against the assessee and in favour of the revenue. I hold that, on the facts and in the circumstances of this case, the amount of Rs. 2,04,947 was not allowable as deduction of selling commission in the assessment for the assessment year 1955-56
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