https://www.taxtmi.com/caselaws?id=241969 Business expenditure incurred by a corporate insurance agent was examined on a documentary and business-practice basis. Certified data purchase and salary, wages and bonus were allowed because the records, vouchers and surrounding material supported the claim and no specific defect was shown. Referral-fee expenditure was only partly accepted because some vouchers were self-made, certain recipients were not produced and enquiries revealed inconsistencies, but the overall business pattern did not justify a large ad hoc rejection. The disallowance on referral fee was therefore confined to 5 per cent, with the balance deleted, reflecting the principle that business spending must be judged from the businessman's perspective and not by arbitrary estimates. en-us Fri, 17 May 2013 00:00:00 +0530 Sat, 04 Jan 2014 19:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=241969 Business expenditure incurred by a corporate insurance agent was examined on a documentary and business-practice basis. Certified data purchase and salary, wages and bonus were allowed because the records, vouchers and surrounding material supported the claim and no specific defect was shown. Referral-fee expenditure was only partly accepted because some vouchers were self-made, certain recipients were not produced and enquiries revealed inconsistencies, but the overall business pattern did not justify a large ad hoc rejection. The disallowance on referral fee was therefore confined to 5 per cent, with the balance deleted, reflecting the principle that business spending must be judged from the businessman's perspective and not by arbitrary estimates. Case-Laws Income Tax Fri, 17 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=241969