https://www.taxtmi.com/caselaws?id=28948 The Delhi High Court held that the sum of Rs. 1,01,779 received by the assessee was not an admissible business expense but rather a genuine transaction settled with the manufacturer. The Court emphasized that under the agreement, the assessee's income was limited to a 10% commission and any excess price charged had to be accounted for to the manufacturer. The Court ruled that the sum did not constitute income in the hands of the assessee, as it was not part of the agreed commission. The judgment favored the assessee, affirming the genuineness of the transaction and clarifying the distinction between receipts and income. en-us Thu, 15 Apr 1982 00:00:00 +0530 Mon, 08 Mar 2010 17:56:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28948 The Delhi High Court held that the sum of Rs. 1,01,779 received by the assessee was not an admissible business expense but rather a genuine transaction settled with the manufacturer. The Court emphasized that under the agreement, the assessee's income was limited to a 10% commission and any excess price charged had to be accounted for to the manufacturer. The Court ruled that the sum did not constitute income in the hands of the assessee, as it was not part of the agreed commission. The judgment favored the assessee, affirming the genuineness of the transaction and clarifying the distinction between receipts and income. Case-Laws Income Tax Thu, 15 Apr 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28948