1983 (1) TMI 43 - HC - Income Tax

Summary

The High Court of Madhya Pradesh upheld the disallowance of Rs. 12,000 commission paid to Shri J. M. Nadkarni by an assessee firm, as there was no agreement in place and the payment was deemed excessive. The court ruled in favor of the Revenue, citing Section 40A(2) of the Income-tax Act, 1961. The Tribunal's decision to disallow the commission was justified.