https://www.taxtmi.com/caselaws?id=346799 The High Court of Bombay upheld the Tribunal's decision in a case involving the reopening of assessments under Section 148 of the Income Tax Act based on the Volcker Committee Report and the disallowance of commission payments under Section 37(1). The Court found that the Assessee did not engage in any illicit payments or violate any laws, dismissing the Revenue's appeals. The Court emphasized the importance of factual findings and confirmed that the Tribunal's decision was sound, without any legal errors. The Court also referenced the Supreme Court's distinction between law and morality in legislative matters. en-us Wed, 09 Aug 2017 00:00:00 +0530 Wed, 23 Aug 2017 11:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346799 The High Court of Bombay upheld the Tribunal's decision in a case involving the reopening of assessments under Section 148 of the Income Tax Act based on the Volcker Committee Report and the disallowance of commission payments under Section 37(1). The Court found that the Assessee did not engage in any illicit payments or violate any laws, dismissing the Revenue's appeals. The Court emphasized the importance of factual findings and confirmed that the Tribunal's decision was sound, without any legal errors. The Court also referenced the Supreme Court's distinction between law and morality in legislative matters. Case-Laws Income Tax Wed, 09 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346799