https://www.taxtmi.com/caselaws?id=181620 The Tribunal allowed the assessee's appeal against the disallowance of commission paid under section 40(a)(ia) of the Income Tax Act, 1961 for the assessment year 2007-08. The Tribunal held that the disallowance was incorrect as the commissions had already been paid and were not outstanding, citing relevant precedents. Emphasizing the distinction between "paid" and "payable" amounts, the Tribunal concluded that section 40(a)(ia) applies only to amounts due and outstanding, not to those already paid. Therefore, the disallowance of &8377; 7 lakhs was deleted, ruling in favor of the assessee. en-us Mon, 25 Apr 2011 00:00:00 +0530 Wed, 20 Apr 2016 18:02:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181620 The Tribunal allowed the assessee's appeal against the disallowance of commission paid under section 40(a)(ia) of the Income Tax Act, 1961 for the assessment year 2007-08. The Tribunal held that the disallowance was incorrect as the commissions had already been paid and were not outstanding, citing relevant precedents. Emphasizing the distinction between "paid" and "payable" amounts, the Tribunal concluded that section 40(a)(ia) applies only to amounts due and outstanding, not to those already paid. Therefore, the disallowance of &8377; 7 lakhs was deleted, ruling in favor of the assessee. Case-Laws Income Tax Mon, 25 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181620