https://www.taxtmi.com/caselaws?id=327478 The Tribunal partly allowed the Revenue's appeal, upholding relief granted to the assessee for speculation loss as a business loss under Section 43(5) of the Act. The Tribunal set aside the CIT(A)'s decision on belated Provident Fund payments, restoring the Assessing Officer's order based on a High Court judgment. Additionally, the Tribunal upheld relief granted by the CIT(A) on disallowance of commission expenses, deeming them legitimate payments for services rendered. The Tribunal provided detailed legal analysis and dismissed the Revenue's grounds related to the commission expenses disallowance. en-us Wed, 30 Mar 2016 00:00:00 +0530 Thu, 12 May 2016 01:20:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327478 The Tribunal partly allowed the Revenue's appeal, upholding relief granted to the assessee for speculation loss as a business loss under Section 43(5) of the Act. The Tribunal set aside the CIT(A)'s decision on belated Provident Fund payments, restoring the Assessing Officer's order based on a High Court judgment. Additionally, the Tribunal upheld relief granted by the CIT(A) on disallowance of commission expenses, deeming them legitimate payments for services rendered. The Tribunal provided detailed legal analysis and dismissed the Revenue's grounds related to the commission expenses disallowance. Case-Laws Income Tax Wed, 30 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327478