https://www.taxtmi.com/caselaws?id=406651 The Appellate Tribunal set aside the CIT(A)'s decision to allow commission payments of Rs. 2,45,40,000, restoring the AO's disallowance due to lack of evidence for services rendered and suspicious timing of entries. However, the Tribunal upheld the CIT(A)'s decision to allow the compensation loss of Rs. 3,05,10,500, considering it a commercial decision to avoid legal consequences amidst falling iron prices. The judgment highlighted the necessity of substantial evidence and adherence to legal principles established in higher judiciary precedents. en-us Fri, 09 Apr 2021 00:00:00 +0530 Tue, 20 Apr 2021 12:53:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406651 The Appellate Tribunal set aside the CIT(A)'s decision to allow commission payments of Rs. 2,45,40,000, restoring the AO's disallowance due to lack of evidence for services rendered and suspicious timing of entries. However, the Tribunal upheld the CIT(A)'s decision to allow the compensation loss of Rs. 3,05,10,500, considering it a commercial decision to avoid legal consequences amidst falling iron prices. The judgment highlighted the necessity of substantial evidence and adherence to legal principles established in higher judiciary precedents. Case-Laws Income Tax Fri, 09 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406651