https://www.taxtmi.com/caselaws?id=64191 The disallowance of brokerage and commission expenses by the IAC (A) for the assessment years 1981-82 and 1982-83 was vacated by the CIT(A) due to lack of verifiable evidence. The Tribunal upheld the decision, emphasizing the past practice of allowing similar expenses and the adequacy of evidence provided. Despite a dissenting opinion suggesting remand for further examination, the majority opinion favored the assessee, deeming the claimed expenditure as allowable business expenses. The appeals filed by the Revenue were unsuccessful, resulting in a favorable outcome for the assessee. en-us Fri, 21 Nov 1986 00:00:00 +0530 Sat, 05 Feb 2011 13:02:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64191 The disallowance of brokerage and commission expenses by the IAC (A) for the assessment years 1981-82 and 1982-83 was vacated by the CIT(A) due to lack of verifiable evidence. The Tribunal upheld the decision, emphasizing the past practice of allowing similar expenses and the adequacy of evidence provided. Despite a dissenting opinion suggesting remand for further examination, the majority opinion favored the assessee, deeming the claimed expenditure as allowable business expenses. The appeals filed by the Revenue were unsuccessful, resulting in a favorable outcome for the assessee. Case-Laws Income Tax Fri, 21 Nov 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64191