https://www.taxtmi.com/caselaws?id=18235 The High Court ruled in favor of the assessee, holding that the commission paid to the proprietary concern of the partner was deductible in computing the total income. The court emphasized the importance of considering the substance of transactions over their form in revenue cases and the need for finality in legal proceedings to mitigate hardships caused by legislative ambiguities. The Tribunal's decision was upheld, and the provisions of section 40(b) of the Income-tax Act, 1961 were deemed not applicable in this case. en-us Tue, 20 Feb 1996 00:00:00 +0530 Tue, 29 Sep 2009 16:09:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18235 The High Court ruled in favor of the assessee, holding that the commission paid to the proprietary concern of the partner was deductible in computing the total income. The court emphasized the importance of considering the substance of transactions over their form in revenue cases and the need for finality in legal proceedings to mitigate hardships caused by legislative ambiguities. The Tribunal's decision was upheld, and the provisions of section 40(b) of the Income-tax Act, 1961 were deemed not applicable in this case. Case-Laws Income Tax Tue, 20 Feb 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18235