2014 (2) TMI 122

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....nstance of the Revenue as against the order of the Income-tax Appel- late Tribunal for the assessment year 2003-04. The tax case appeal was admitted on the following substantial question of law :            "Whether, on the facts and in the circumstances of the case, the Tribunal was right in allowing the 'buyers commission' to be deducted from ....

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.... the assessee went on appeal before the Commissioner of Income-tax (Appeals). The first appellate authority pointed out that the details of the "buyers commission" was brought on record and the said practice of "buyers commission" was consistently followed over a long period of time, and the examination of the "buyers commission" accounts also revealed that while negotiating the gross amount being....

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.... Tribunal, in its order, referred to the earlier order passed by Assessing Officer accepting the claim of the assessee relating to the subsequent assessment year 2004-05. It fur- ther pointed out that even for the subsequent assessment year, the bills produced clearly showed the net amount paid after deducting the com- mission in the bills and held that in the absence of any further materials from....