https://www.taxtmi.com/caselaws?id=56413 The Tribunal allowed the appeal, finding in favor of the assessee and reinstating the AO's assessment order. The Tribunal concluded that the assessment order was neither erroneous nor prejudicial to the Revenue's interest, highlighting that the AO's decision to allow a deduction of 40% on the first year's commission and 15% on renewal commission was justified based on the Circulars. The Tribunal emphasized that the maximum deduction of Rs. 10,000 as per the Circular was not applicable in this case, ultimately overturning the CIT's order under section 263 of the IT Act, 1961. en-us Mon, 30 Oct 1995 00:00:00 +0530 Fri, 03 Dec 2010 15:07:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56413 The Tribunal allowed the appeal, finding in favor of the assessee and reinstating the AO's assessment order. The Tribunal concluded that the assessment order was neither erroneous nor prejudicial to the Revenue's interest, highlighting that the AO's decision to allow a deduction of 40% on the first year's commission and 15% on renewal commission was justified based on the Circulars. The Tribunal emphasized that the maximum deduction of Rs. 10,000 as per the Circular was not applicable in this case, ultimately overturning the CIT's order under section 263 of the IT Act, 1961. Case-Laws Income Tax Mon, 30 Oct 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56413