2023 (9) TMI 1044 - SCH - Income Tax

Addition of expenditure as commission on export of goods - payment on behalf of the Assessee to its overseas agents for facilitating its export business - Department's appeal is on the footing that no deduction/expenditure, which was not claimed in the return of income, could be claimed before the Assessing Officer without filing any revised return - As decided by HC 2019 (7) TMI 645 - BOMBAY HIGH COURT what the Assessee received from its foreign buyers was the net FOB value; the Assessee was not claiming any expenditure on account of commission paid and, there was, thus, no question of any revised return - HELD THAT - Having heard learned Additional Solicitor General appearing for the petitioner at a considerable length and after carefully perusing the material available on record, we are not inclined to interfere with the impugned Order passed by the High Court. Special Leave Petition is, accordingly, dismissed.

Summary

The Supreme Court dismissed the Special Leave Petition after considering arguments from both parties and reviewing the available material on record. The impugned Order passed by the High Court was not interfered with.