https://www.taxtmi.com/caselaws?id=299449 Commission paid to sole selling agents was treated as an admissible business deduction on grounds of commercial expediency, following the Court's earlier line of reasoning. Interest on borrowed moneys was not disallowed under section 36(1)(iii) in relation to deposits collected and retained by the agents, again on the basis of prior precedent. Local cess and local cess surcharge were held deductible in the year the demand arose, with any later issue of cessation of liability under section 41 to be verified by the Tribunal for giving effect to the order. The reference was answered substantially in favour of the assessee. en-us Mon, 10 Sep 2001 00:00:00 +0530 Wed, 15 Dec 2021 12:27:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299449 Commission paid to sole selling agents was treated as an admissible business deduction on grounds of commercial expediency, following the Court's earlier line of reasoning. Interest on borrowed moneys was not disallowed under section 36(1)(iii) in relation to deposits collected and retained by the agents, again on the basis of prior precedent. Local cess and local cess surcharge were held deductible in the year the demand arose, with any later issue of cessation of liability under section 41 to be verified by the Tribunal for giving effect to the order. The reference was answered substantially in favour of the assessee. Case-Laws Income Tax Mon, 10 Sep 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299449