https://www.taxtmi.com/caselaws?id=769360 Bombay HC upheld lower authorities' determination that under a contract clause, the assessee was liable to pay 5% of actual receipts (Rs. 58,77,412) rather than 5% of gross advertising bills raised. The court found the assessee's disclosed income of Rs. 63,43,480 from advertising receipts was supported by profit and loss accounts. The HC rejected the assessee's appeal, ruling that factual findings by the AO, CIT(A) and Tribunal were neither perverse nor unsupported by evidence, requiring no interference. en-us Tue, 22 Apr 2025 00:00:00 +0530 Thu, 24 Apr 2025 09:13:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769360 Bombay HC upheld lower authorities' determination that under a contract clause, the assessee was liable to pay 5% of actual receipts (Rs. 58,77,412) rather than 5% of gross advertising bills raised. The court found the assessee's disclosed income of Rs. 63,43,480 from advertising receipts was supported by profit and loss accounts. The HC rejected the assessee's appeal, ruling that factual findings by the AO, CIT(A) and Tribunal were neither perverse nor unsupported by evidence, requiring no interference. Case-Laws Income Tax Tue, 22 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769360