https://www.taxtmi.com/caselaws?id=28639 The Appellate Tribunal's decision to delete the commission added to the assessee's income for the assessment years was upheld by the court. The court found that the commission was illusory and hypothetical, given the commercial realities, and could not be said to have accrued in favor of the assessee. Additionally, the court agreed with the Tribunal's cancellation of penalties under section 271(1)(c), as the amounts were not taxable income, thus no penalty could be imposed for their omission from the return. The court ruled in favor of the assessee, who was awarded costs including counsel's fee of Rs. 500. en-us Fri, 20 Nov 1981 00:00:00 +0530 Wed, 24 Feb 2010 15:09:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28639 The Appellate Tribunal's decision to delete the commission added to the assessee's income for the assessment years was upheld by the court. The court found that the commission was illusory and hypothetical, given the commercial realities, and could not be said to have accrued in favor of the assessee. Additionally, the court agreed with the Tribunal's cancellation of penalties under section 271(1)(c), as the amounts were not taxable income, thus no penalty could be imposed for their omission from the return. The court ruled in favor of the assessee, who was awarded costs including counsel's fee of Rs. 500. Case-Laws Income Tax Fri, 20 Nov 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28639