https://www.taxtmi.com/caselaws?id=117822 The Tribunal dismissed all appeals, upholding the lower authorities' orders. It found the sworn statement during the survey lacked evidentiary value due to the Assessing Officer's lack of authority to record it. Despite this, subsequent voluntary admissions confirmed the actual interest collection rate of 36%, higher than the recorded 18%. The undisclosed commission payments to directors were considered income diversion. The Tribunal emphasized collective responsibility of company officials, rejected justifications for claimed commission payments, and affirmed findings of excess interest collection and undisclosed commissions. en-us Fri, 29 Oct 2004 00:00:00 +0530 Tue, 26 Jun 2012 17:02:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=117822 The Tribunal dismissed all appeals, upholding the lower authorities' orders. It found the sworn statement during the survey lacked evidentiary value due to the Assessing Officer's lack of authority to record it. Despite this, subsequent voluntary admissions confirmed the actual interest collection rate of 36%, higher than the recorded 18%. The undisclosed commission payments to directors were considered income diversion. The Tribunal emphasized collective responsibility of company officials, rejected justifications for claimed commission payments, and affirmed findings of excess interest collection and undisclosed commissions. Case-Laws Income Tax Fri, 29 Oct 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=117822