Monday, November 15, 2021

Commission paid to distributor on achieving sale target is an allowable business exp. : ITAT

INCOME TAX : Where assessee manufacturer paid commission to sole distributor for achieving minimum sale target, since such commission expense incurred by assessee was wholly and exclusively for business purpose, same was to be allowed under section 37(1)

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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...