https://www.taxtmi.com/caselaws?id=188759 A Board circular dated 6-6-1984 was interpreted to permit an insurance agent whose gross commission was below Rs. 60,000 to claim expenditure deduction at 50 per cent of the year's commission. The Tribunal's construction of the circular was upheld as correct, with no infirmity found in its conclusion. On that basis, the assessee remained entitled to the 50 per cent deduction, and the revenue's reference application under section 256(2) of the Income-tax Act, 1961 failed. en-us Tue, 23 Nov 1993 00:00:00 +0530 Thu, 15 Dec 2016 13:15:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188759 A Board circular dated 6-6-1984 was interpreted to permit an insurance agent whose gross commission was below Rs. 60,000 to claim expenditure deduction at 50 per cent of the year's commission. The Tribunal's construction of the circular was upheld as correct, with no infirmity found in its conclusion. On that basis, the assessee remained entitled to the 50 per cent deduction, and the revenue's reference application under section 256(2) of the Income-tax Act, 1961 failed. Case-Laws Income Tax Tue, 23 Nov 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188759