2018 (11) TMI 384

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....reign agent. 3. Brief facts are, the assessee company is engaged in manufacturing and wholesale trading of cotton yarn and fabric. For the impugned assessment year the assessee filed its return of income on 30th November 2013, declaring nil income and claiming carry forward of loss of Rs. 26,35,134. During the assessment proceedings, the Assessing Officer noticed that the assessee has claimed deduction of Rs. 27,13,195, on account commission paid to overseas agents. To verify the genuineness of the commission payment, the Assessing Officer called upon the assessee to furnish the supporting details. After verifying the details furnished by the assessee along with the explanation in support of the claim, the Assessing Officer was of the vi....

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....ds commission expenses. He submitted, the payment made to Pramptex Agarwal Inc., Peru, is also under similar terms and condition. The learned Authorised Representative submitted, while deciding identical issue in assessee's own case for assessment year 2009-10 and 2011-12, in ITA no. 4222/Mum./2016 and ITA no. 4221/Mum./2016, dated 18th June 2018, the Tribunal has deleted the disallowance made by the Assessing Officer. Thus, he submitted, the aforesaid decision of the Tribunal squarely applies to the facts of the present case. 6. The learned Departmental Representative relied upon the observations of the learned Commissioner (Appeals) and the Assessing Officer. 7. I have considered rival submissions and perused materials on record. It....