9911796707
TMI Blog1983 (1) TMI 43X X X X Extracts X X X X X X X X Extracts X X X X ..... ed to as " the Act "), the Income-tax Appellate Tribunal, Indore, Bench, Indore, has referred the following question of law to this court for its opinion : " Whether, under the facts and circumstances of the case, the Tribunal was justified in disallowing Rs. 12,000, being commission paid to Shri J.. M. Nadkarni, u/s. 40A(2) of the Income-tax Act, 1961 ? " The material facts giving rise to thi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by the ITO. On further appeal, the Tribunal held that there was no evidence that, at the material time, there had been any agreement entered into by the assessee-firm with Shri J.M. Nadkarni to pay any commission to him in addition to his salary of Rs. 24,000 per annum and that a copy of the agreement produced by the assessee in support of payment of commission to Shri J. M. Nadkarni was entered i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... are attracted. The Tribunal, after taking into consideration the fact that there was no agreement at the relevant time to pay commission to Shri J. M. Nadkarni, has upheld the order of the ITO holding that the sum of Rs. 12,000 paid to Shri Nadkarni, by way of commission, was excessive and was not allowable. The finding of the Tribunal is based on the material on record. Under these circumstances, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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