https://www.taxtmi.com/caselaws?id=431579 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to delete the additions made by the AO. The first issue regarding the payment of commission claimed as expenses was resolved in favor of the assessee, as comprehensive evidence was provided, leading to the deletion of the disallowance. The second issue concerning the fair market value of shares bought back by the assessee from its holding company was also decided in favor of the assessee, with the Tribunal ruling that the buyback did not attract the provisions of section 56(2)(viia) as it did not involve the acquisition of property. en-us Wed, 14 Dec 2022 00:00:00 +0530 Thu, 09 Mar 2023 12:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431579 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to delete the additions made by the AO. The first issue regarding the payment of commission claimed as expenses was resolved in favor of the assessee, as comprehensive evidence was provided, leading to the deletion of the disallowance. The second issue concerning the fair market value of shares bought back by the assessee from its holding company was also decided in favor of the assessee, with the Tribunal ruling that the buyback did not attract the provisions of section 56(2)(viia) as it did not involve the acquisition of property. Case-Laws Income Tax Wed, 14 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431579