https://www.taxtmi.com/caselaws?id=6218 Compensation paid to selling agents and a managing agent was treated as a non-deductible business outgoing because the agreements were found on evidence to be sham and colourable. The court noted that the sequence of appointments, contractual terms, timing of the mill sale, compensation demand, and rapid resolutions and payments pointed to a connected design controlled by the same interests. On that factual basis, the claimed expenditure was not a genuine commercial payment under section 10(2)(xv) of the Income-tax Act, 1922, and the deduction was disallowed. en-us Wed, 29 Apr 1970 00:00:00 +0530 Wed, 03 Dec 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6218 Compensation paid to selling agents and a managing agent was treated as a non-deductible business outgoing because the agreements were found on evidence to be sham and colourable. The court noted that the sequence of appointments, contractual terms, timing of the mill sale, compensation demand, and rapid resolutions and payments pointed to a connected design controlled by the same interests. On that factual basis, the claimed expenditure was not a genuine commercial payment under section 10(2)(xv) of the Income-tax Act, 1922, and the deduction was disallowed. Case-Laws Income Tax Wed, 29 Apr 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6218