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2016 (6) TMI 1038 - CALCUTTA HIGH COURT

2016 (6) TMI 1038 - CALCUTTA HIGH COURT - TMI - Assessment of commission under the head income from business or profession - dis allowance of proportionate expenses delted by ITAT - Held that:- Revenue, was unable to point out any infirmity in the views expressed by the learned Tribunal. He is unable to show any reason as to why the income of a sum earned by the assessee on account of commission should not have been treated to have been earned from business or profession. He is also unable to sh .....

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ining to the assessment year 2001-02 by which the learned Tribunal dismissed an appeal preferred by the revenue. Briefly stated facts and circumstances of the case are as follows: In the relevant assessment year, the assessee had offered a sum of ₹ 5,68,57,561/- for taxation which included a sum of ₹ 38,38,575/- claimed to have been received by the assessee on account of commission from M/s. Satyataj Commercial & M/s. Madhya Engg. Pvt. Ltd. These two parties at the time of assess .....

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is turn, directed the Assessing Officer to treat the income to have been earned from business and profession as also to allow the expenditure of a sum of ₹ 75,922/-. In an appeal preferred by the revenue, the learned Tribunal concurred with the views of the CIT(A). It is against this order that the present appeal has been filed. The appeal was admitted on 17th December, 2009 on the following questions of law: ï] Whether the Learned Tribunal has examined the order of the Commissioner o .....

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