2014 (2) TMI 122

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....rder 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 the sale proceeds in the absence of any a....

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....missioner 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 sale value was given credit by the bank an....

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....rlier 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 the Revenue to reject the plea of the asse....