Failure to Justify Service render to AE: ITAT Upholds Disallowance of Payment of Agency Commission [Read Order]

The Chennai  Bench of Income Tax Appellate Tribunal (ITAT) while confirming the disallowance of payment of agency commission held that the assessee failed to justify the service render to Associated Enterprise The assessee Intimate Fashions  is a joint venture between M/s.MAS Capital Pvt. Ltd., Sri Lanka, M/s.Triumph International Overseas Ltd., Liechtenstein and M/s.Mast Industries Inc….