https://www.taxtmi.com/caselaws?id=26931 The court held that the Tribunal erred in disallowing the commission paid to Dena Bank. The court concluded that the purpose of obtaining the bank guarantee was to protect the business assets and keep the business running, qualifying as an admissible expense. The question was answered in the negative, in favor of the assessee and against the Revenue. The Commissioner was directed to pay the costs of the reference to the assessee. en-us Tue, 18 Jun 1985 00:00:00 +0530 Tue, 09 Feb 2010 15:06:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26931 The court held that the Tribunal erred in disallowing the commission paid to Dena Bank. The court concluded that the purpose of obtaining the bank guarantee was to protect the business assets and keep the business running, qualifying as an admissible expense. The question was answered in the negative, in favor of the assessee and against the Revenue. The Commissioner was directed to pay the costs of the reference to the assessee. Case-Laws Income Tax Tue, 18 Jun 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26931