https://www.taxtmi.com/caselaws?id=38901 The High Court held that the commissions paid by the assessee to its employees were allowable under Section 36(1)(ii) of the Income-tax Act, 1961, rather than Section 37. The court emphasized the genuineness of the agreements, the necessity of the commissions for business purposes, and the prevailing practice of paying such commissions in the trade. The Tribunal's decision was upheld, with a correction in the applicable section. The court directed the Commissioner to pay the costs of the reference to the assessee. en-us Fri, 07 Dec 1973 00:00:00 +0530 Sat, 10 Apr 2010 12:39:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38901 The High Court held that the commissions paid by the assessee to its employees were allowable under Section 36(1)(ii) of the Income-tax Act, 1961, rather than Section 37. The court emphasized the genuineness of the agreements, the necessity of the commissions for business purposes, and the prevailing practice of paying such commissions in the trade. The Tribunal's decision was upheld, with a correction in the applicable section. The court directed the Commissioner to pay the costs of the reference to the assessee. Case-Laws Income Tax Fri, 07 Dec 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38901