https://www.taxtmi.com/caselaws?id=442539 The court ruled in favor of the Assessee, overturning the Tribunal's partial disallowance of commission payments for the assessment years 1986-87, 1987-88, and 1988-89. It was determined that the Assessing Officer and Tribunal lacked justification for the disallowance, as the commission payments were legitimate business expenditures made through banking channels. The court acknowledged the absence of any improper financial flow back to the Assessee, affirming the genuineness of the transactions. The appeal was allowed, and the legal question was resolved in favor of the Assessee, opposing the Revenue's stance. en-us Thu, 31 Aug 2023 00:00:00 +0530 Fri, 01 Mar 2024 11:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=442539 The court ruled in favor of the Assessee, overturning the Tribunal's partial disallowance of commission payments for the assessment years 1986-87, 1987-88, and 1988-89. It was determined that the Assessing Officer and Tribunal lacked justification for the disallowance, as the commission payments were legitimate business expenditures made through banking channels. The court acknowledged the absence of any improper financial flow back to the Assessee, affirming the genuineness of the transactions. The appeal was allowed, and the legal question was resolved in favor of the Assessee, opposing the Revenue's stance. Case-Laws Income Tax Thu, 31 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=442539