https://www.taxtmi.com/caselaws?id=24431 An amount debited to an assessee under a selling agency arrangement was held to be deductible from business income because the business terms made the assessee liable for payment of the goods sold, and the customer's default therefore crystallised a business loss in the course of commission trading. The expenditure was directly connected with the assessee's cloth-selling operations and was properly relatable to the income-earning business activity. The deduction was accordingly accepted as either a business loss or business expenditure, and the issue was answered in favour of the assessee. en-us Mon, 07 Nov 1988 00:00:00 +0530 Wed, 20 Jan 2010 10:23:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24431 An amount debited to an assessee under a selling agency arrangement was held to be deductible from business income because the business terms made the assessee liable for payment of the goods sold, and the customer's default therefore crystallised a business loss in the course of commission trading. The expenditure was directly connected with the assessee's cloth-selling operations and was properly relatable to the income-earning business activity. The deduction was accordingly accepted as either a business loss or business expenditure, and the issue was answered in favour of the assessee. Case-Laws Income Tax Mon, 07 Nov 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24431