2006 (4) TMI 512

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....id commission to its agents at the rate of 8.65 per cent which was disallowed by the Assessing Officer on the ground that the same was excessive. The Assessing Officer was of the view that a commission of 2.65 per cent would be reasonable and accordingly allowed deduction of the same from the taxable income of the assessee. 2. In an appeal against the above order, the CIT(Appeals) deleted the add....

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.... the assessee and his business and once it was held that the genuineness of the expenditure was not in dispute or had been established, the assessing authority could not sit in the arm chair of the businessman to determine as to what commission he ought to pay to its agents for doing his business. Mr. Jolly, however, argued that the CIT (Appeals) and the Tribunal had failed to take into account th....