INCOME TAX ACT, 1961

Section 37(1)

Business expenditure - Allowability - Disallowance of Commission Expenses on allegation that assessee did not furnish required details -

Issue was as regards disallowance of Commission Expenses on allegation that assessee did not furnish required details, i.e. list of commission agents, PAN, Deduction of TDS, confirmation, etc. Held: It was noticed that assessee did not furnish basic detail, i.e. bill/voucher, PAN, list of commission agents and detail of services rendered for which commission was provided; in spite of giving a number of opportunities. Assessee has also failed to furnish such basic detail before CIT(A) and even during course of appellate proceedings before Tribunal. Thus, disallowance was justified.

REFERRED :

FAVOUR : Against the assessee

A.Y. :

INCOME TAX ACT, 1961

Section 37(1)

SUBSCRIBE FOR FULL CONTENT