2020 (1) TMI 344 - SCH - Income Tax

Dis-allowance of the commission paid to non-resident foreign agents - under invoicing - Non disclosure of Commission to the agent paid at the time of import - DRI found that customs duty was paid on such net amount remitted to the Assessee; the FOB value disclosed on which customs duty was paid did not include the commission paid to the foreign agents - HELD THAT - Special leave petition is dismissed on the ground of low tax effect.