https://www.taxtmi.com/caselaws?id=294864 The Tribunal dismissed the Revenue's appeal and upheld the decision of the Commissioner (Appeals) to delete the disallowance made under section 40(a)(ia) regarding the commission paid to banks for credit card services. The judgment emphasized the distinction between commission and bank charges, following relevant case laws and the principle of doubtful penalization in invoking tax provisions. The Tribunal's decision was based on the relationship between the bank and the assessee being on a principal-to-principal basis, not that of an agency, as highlighted in the Delhi High Court's judgment and previous rulings in favor of the assessee. en-us Wed, 25 Oct 2017 00:00:00 +0530 Fri, 07 May 2021 08:04:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294864 The Tribunal dismissed the Revenue's appeal and upheld the decision of the Commissioner (Appeals) to delete the disallowance made under section 40(a)(ia) regarding the commission paid to banks for credit card services. The judgment emphasized the distinction between commission and bank charges, following relevant case laws and the principle of doubtful penalization in invoking tax provisions. The Tribunal's decision was based on the relationship between the bank and the assessee being on a principal-to-principal basis, not that of an agency, as highlighted in the Delhi High Court's judgment and previous rulings in favor of the assessee. Case-Laws Income Tax Wed, 25 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294864