2018 (4) TMI 343

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....el.   Respondent Through: O R D E R The Revenue urges two question of law - firstly, with respect to the disallowance under Section 40(A)(ia) of the Income Tax Act, 1961, and secondly, relating to the amounts of the alleged undisclosed income by way of bogus credits to the tune of Rs. 66,50,763/- claimed by the assessee. The assessee organisation entered into a contractual relatio....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....he payouts by the FIH also included commission which was per se taxable, and therefore, tax deductable. The CIT(A) accepted the assessee's explanation that the reimbursement claimed was such as the assessee could not hold an independent inquiry into each transaction; the ITAT affirmed the decision. The Revenue urges that the facts clearly disclosed in the income, did exist in support of the tra....