https://www.taxtmi.com/caselaws?id=272833 The Tribunal upheld the Commissioner of Income Tax (Appeals) decision to allow profit commission paid to the Chairman and Managing Director (CMD) as reasonable and aligned with the company's needs. However, the Tribunal confirmed the Assessing Officer's disallowance of guarantee commission paid to directors due to lack of business necessity. The Tribunal remitted the issue of commission paid to John Bruce (UK) Ltd. back to the AO for further examination. Additionally, the Tribunal restored the disallowance of profit commission to the CMD's daughter and rent paid for accommodation leased from the CMD's son-in-law, emphasizing lack of justification and business purpose. en-us Wed, 21 Sep 2016 00:00:00 +0530 Sun, 20 May 2018 21:58:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272833 The Tribunal upheld the Commissioner of Income Tax (Appeals) decision to allow profit commission paid to the Chairman and Managing Director (CMD) as reasonable and aligned with the company's needs. However, the Tribunal confirmed the Assessing Officer's disallowance of guarantee commission paid to directors due to lack of business necessity. The Tribunal remitted the issue of commission paid to John Bruce (UK) Ltd. back to the AO for further examination. Additionally, the Tribunal restored the disallowance of profit commission to the CMD's daughter and rent paid for accommodation leased from the CMD's son-in-law, emphasizing lack of justification and business purpose. Case-Laws Income Tax Wed, 21 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272833