https://www.taxtmi.com/caselaws?id=57112 Where a commission agency business had no regular books or itemised expenditure records, a percentage-based deduction was accepted as a reasonable estimate of expenses incurred to earn commission income. The extensive territory covered by the agency work, the assessee's support for the estimate before the lower authorities, and the fact that similar deductions had been accepted in later years under section 143(1) supported the higher claim. On those facts, expenditure was allowed at 40% of the commission receipts. en-us Thu, 25 Jun 1981 00:00:00 +0530 Wed, 08 Dec 2010 15:02:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57112 Where a commission agency business had no regular books or itemised expenditure records, a percentage-based deduction was accepted as a reasonable estimate of expenses incurred to earn commission income. The extensive territory covered by the agency work, the assessee's support for the estimate before the lower authorities, and the fact that similar deductions had been accepted in later years under section 143(1) supported the higher claim. On those facts, expenditure was allowed at 40% of the commission receipts. Case-Laws Income Tax Thu, 25 Jun 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57112