https://www.taxtmi.com/caselaws?id=55875 The Tribunal allowed the appeal, overturning the CIT(A)'s decision to disallow a commission payment for financial loan and a portion of service charges. It held that the commission payment was genuine and common in commercial practices, emphasizing the legitimacy of the claim. Additionally, it found the service charges to be reasonable and accrued in the current year, criticizing the Revenue authorities for not granting the deduction. The Tribunal directed the ITO to allow the deductions as claimed and modify the assessment in favor of the assessee, benefiting the firm and partners. en-us Sun, 28 Oct 1984 00:00:00 +0530 Tue, 30 Nov 2010 14:52:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55875 The Tribunal allowed the appeal, overturning the CIT(A)'s decision to disallow a commission payment for financial loan and a portion of service charges. It held that the commission payment was genuine and common in commercial practices, emphasizing the legitimacy of the claim. Additionally, it found the service charges to be reasonable and accrued in the current year, criticizing the Revenue authorities for not granting the deduction. The Tribunal directed the ITO to allow the deductions as claimed and modify the assessment in favor of the assessee, benefiting the firm and partners. Case-Laws Income Tax Sun, 28 Oct 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55875