https://www.taxtmi.com/caselaws?id=271463 Amounts advanced in the course of an ongoing trade arrangement were treated as commercial payments, so they were not assessable as deemed dividend under section 2(22)(e). Commission paid to a related person was not disallowed under section 40A(2)(b) because the Revenue did not show it was excessive, unreasonable, or unsupported by business purpose. An old sundry credit was not taxed under section 41(1) since mere passage of time does not establish cessation of liability without waiver or other evidence. Jewellery found at the residence and locker was accepted as explained household jewellery and stree-dhan. Business expenditure was partly restricted for lack of vouchers, and interest under section 234B was to be computed with reference to the return filed under section 153A. en-us Thu, 07 Jan 2016 00:00:00 +0530 Fri, 05 Feb 2016 06:16:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271463 Amounts advanced in the course of an ongoing trade arrangement were treated as commercial payments, so they were not assessable as deemed dividend under section 2(22)(e). Commission paid to a related person was not disallowed under section 40A(2)(b) because the Revenue did not show it was excessive, unreasonable, or unsupported by business purpose. An old sundry credit was not taxed under section 41(1) since mere passage of time does not establish cessation of liability without waiver or other evidence. Jewellery found at the residence and locker was accepted as explained household jewellery and stree-dhan. Business expenditure was partly restricted for lack of vouchers, and interest under section 234B was to be computed with reference to the return filed under section 153A. Case-Laws Income Tax Thu, 07 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271463