Revision u/s 263 - Genuineness of expenditure (Commission paid) ...

ITAT Validates Commission Payment as Genuine, Overrules Principal Tax Commissioner's Order Due to Irrelevant GST Discrepancies.

March 2, 2024

Case Laws Income Tax AT

Revision u/s 263 - Genuineness of expenditure (Commission paid) - The ITAT found that the commission agreement was genuine, payments were made through banking channels, and tax was deducted at source, supporting the legitimacy of the transaction. Despite the substantial amount of commission paid, the ITAT emphasized that the genuineness of the transaction should be verified, which was found to be in order. The discrepancy in GST calculations and reported figures was deemed irrelevant by the ITAT. - The ITAT allowed the appeal of the assessee, quashing the order passed by the Ld. Pr. CIT under Section 263.

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Revision u/s 263 - Genuineness of expenditure (Commission paid) ...

ITAT Validates Commission Payment as Genuine, Overrules Principal Tax Commissioner's Order Due to Irrelevant GST Discrepancies.

March 2, 2024

Case Laws Income Tax AT

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