https://www.taxtmi.com/caselaws?id=23226 The High Court of Madras ruled in a tax case concerning the payment of a commission by the assessee for repatriation of funds from Ceylon. The court upheld the addition of Rs. 40,000 as commission, stating that the funds were brought into India clandestinely, necessitating a commission payment for repatriation. The judgment emphasized that while a circular by the Central Board of Direct Taxes allowed for repatriation without direct evidence, it did not preclude authorities from determining the quantum of repatriated funds through irregular channels. The court found the Tribunal's estimation of Rs. 40,000 as reasonable and ruled in favor of the Revenue, ordering costs to be borne by the assessee. en-us Tue, 20 Feb 1990 00:00:00 +0530 Thu, 17 Dec 2009 16:28:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23226 The High Court of Madras ruled in a tax case concerning the payment of a commission by the assessee for repatriation of funds from Ceylon. The court upheld the addition of Rs. 40,000 as commission, stating that the funds were brought into India clandestinely, necessitating a commission payment for repatriation. The judgment emphasized that while a circular by the Central Board of Direct Taxes allowed for repatriation without direct evidence, it did not preclude authorities from determining the quantum of repatriated funds through irregular channels. The court found the Tribunal's estimation of Rs. 40,000 as reasonable and ruled in favor of the Revenue, ordering costs to be borne by the assessee. Case-Laws Income Tax Tue, 20 Feb 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23226