1981 (2) TMI 73 - HC - Income Tax

Summary

The High Court of Punjab and Haryana ruled in favor of the assessee-company regarding the deduction claimed for commission paid to Textile Processing Agency. The court confirmed that the amount incurred by the agency was a legitimate business expenditure for the assessee, allowing the deduction of Rs. 33,809 under section 37(1) of the Income-tax Act, 1961.