https://www.taxtmi.com/caselaws?id=367048 Commission and service charges paid to agents were treated as allowable business expenditure under section 37(1) where the assessee substantiated the payments with bills, PAN details, account-payee cheques, tax deduction and deposit records, confirmations, and supporting purchase and export documents. The material showed that the agents assisted in arranging purchases and export-related business, and there was no evidence of routing back of funds or any related-party arrangement. In the absence of contrary evidence and with the books not rejected, mere suspicion by the Revenue was insufficient to disallow the claim. The expenditure was therefore regarded as genuine and wholly and exclusively incurred for business purposes. en-us Tue, 11 Sep 2018 00:00:00 +0530 Fri, 14 Sep 2018 07:48:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=367048 Commission and service charges paid to agents were treated as allowable business expenditure under section 37(1) where the assessee substantiated the payments with bills, PAN details, account-payee cheques, tax deduction and deposit records, confirmations, and supporting purchase and export documents. The material showed that the agents assisted in arranging purchases and export-related business, and there was no evidence of routing back of funds or any related-party arrangement. In the absence of contrary evidence and with the books not rejected, mere suspicion by the Revenue was insufficient to disallow the claim. The expenditure was therefore regarded as genuine and wholly and exclusively incurred for business purposes. Case-Laws Income Tax Tue, 11 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=367048