https://www.taxtmi.com/caselaws?id=420675 The ITAT overturned the decision of lower authorities disallowing commission expenses of Rs. 8,29,120, incurred by the wholesale trading business for marketing activities, for the assessment year 2013-14. The ITAT emphasized that expenses need to be incurred wholly and exclusively for business purposes under Section 37 of the Income-tax Act, rejecting the arbitrary ratio applied by the lower authorities. The ITAT found the disallowance lacked a solid basis and ruled in favor of the assessee, deleting the addition to income and allowing the appeal. en-us Tue, 05 Apr 2022 00:00:00 +0530 Thu, 07 Apr 2022 10:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420675 The ITAT overturned the decision of lower authorities disallowing commission expenses of Rs. 8,29,120, incurred by the wholesale trading business for marketing activities, for the assessment year 2013-14. The ITAT emphasized that expenses need to be incurred wholly and exclusively for business purposes under Section 37 of the Income-tax Act, rejecting the arbitrary ratio applied by the lower authorities. The ITAT found the disallowance lacked a solid basis and ruled in favor of the assessee, deleting the addition to income and allowing the appeal. Case-Laws Income Tax Tue, 05 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420675