https://www.taxtmi.com/caselaws?id=10565 The court held that the firms were not sole selling agents as per Section 294(2) of the Companies Act, 1956. It found the appointments of selling agents violated Section 314(1)(b) and were invalid without a special resolution. Therefore, commission payments were disallowed as business expenditure under Section 37 of the Income-tax Act, 1961. en-us Fri, 29 Oct 2004 00:00:00 +0530 Fri, 17 Jul 2009 18:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10565 The court held that the firms were not sole selling agents as per Section 294(2) of the Companies Act, 1956. It found the appointments of selling agents violated Section 314(1)(b) and were invalid without a special resolution. Therefore, commission payments were disallowed as business expenditure under Section 37 of the Income-tax Act, 1961. Case-Laws Income Tax Fri, 29 Oct 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10565