1987 (7) TMI 1 - SC - Income Tax

Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the expenditure by way of secret commission was deductible under section 37(1) of the Act in computing the business income of the assessee - direct the above question to be referred by the Tribunal to the High Court for its opinion

Summary

The Supreme Court allowed appeals by special leave, directing the Tribunal to refer a question to the High Court regarding the deductibility of secret commission expenditure under section 37(1) of the Income-tax Act of 1961.