https://www.taxtmi.com/caselaws?id=27710 The High Court upheld the Tribunal's decision in a case involving the interpretation of the Income Tax Act. The dispute centered on the disallowance of expenses exceeding specified limits, particularly guarantee commission. The Tribunal ruled that excluding the commission from the disallowance was not an apparent mistake, as the nature of guarantee commission made the disallowance a debatable issue. Citing precedents from other High Courts, the High Court affirmed the Tribunal's decision, denying the reference sought by the petitioner and upholding the treatment of guarantee commission in the disallowance calculation. en-us Thu, 02 Feb 1984 00:00:00 +0530 Mon, 15 Feb 2010 15:28:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27710 The High Court upheld the Tribunal's decision in a case involving the interpretation of the Income Tax Act. The dispute centered on the disallowance of expenses exceeding specified limits, particularly guarantee commission. The Tribunal ruled that excluding the commission from the disallowance was not an apparent mistake, as the nature of guarantee commission made the disallowance a debatable issue. Citing precedents from other High Courts, the High Court affirmed the Tribunal's decision, denying the reference sought by the petitioner and upholding the treatment of guarantee commission in the disallowance calculation. Case-Laws Income Tax Thu, 02 Feb 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27710