2023 (1) TMI 1019 - SCH - Income Tax

Disallowance of commission expenditure - Rule of consistency - HC held that method adopted by AO for completing the task, however, does not preclude in any manner the conducting of independent scrutiny of the material presented before the assessee in later years and rule of consistency in the opinion of the court does not preclude the AO from conducting inquiry which he is bound by law to do, for determining in law what are the true and correct amounts, to determine the amounts legally chargeable as tax - HELD THAT - There are concurrent findings of fact recorded by all the authorities below under the Income Tax Act including the High Court that the petitioner has been unsuccessful in proving the commission of which the dis-allowance was claimed. No interference of this Court is called for in exercise of powers under Article 136 of the Constitution of India. The Special Leave Petition stands dismissed.

Summary

The Supreme Court dismissed the Special Leave Petition as there were concurrent findings that the petitioner failed to prove the dis-allowance under the Income Tax Act. The Court stated that no interference was required under Article 136 of the Constitution of India.