https://www.taxtmi.com/caselaws?id=270705 The Tribunal allowed the appeal, ruling in favor of the appellant company engaged in distributing Mutual Fund Schemes. The disallowed service charges of Rs. 67,62,207 were deemed legitimate business expenditure, overturning the AO and CIT(A)'s decisions alleging tax avoidance. The Tribunal emphasized the genuineness of the commission payment to another company for business procurement, citing evidence provided by the appellant and previous acceptance of similar payments. The judgment underscored the significance of evidence in establishing legitimate transactions and upheld the appellant's position, directing the AO to allow the deduction claimed. en-us Wed, 02 Dec 2015 00:00:00 +0530 Tue, 12 Jan 2016 16:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270705 The Tribunal allowed the appeal, ruling in favor of the appellant company engaged in distributing Mutual Fund Schemes. The disallowed service charges of Rs. 67,62,207 were deemed legitimate business expenditure, overturning the AO and CIT(A)'s decisions alleging tax avoidance. The Tribunal emphasized the genuineness of the commission payment to another company for business procurement, citing evidence provided by the appellant and previous acceptance of similar payments. The judgment underscored the significance of evidence in establishing legitimate transactions and upheld the appellant's position, directing the AO to allow the deduction claimed. Case-Laws Income Tax Wed, 02 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270705