ITAT directs Remands Matter to AO to Analyse Payment of Guarantee Commission is an Admissible Deduction u/s 37(1) of Income Tax Act [Read Order]

The AO was directed to analyse whether the the payment of guarantee Commission was an admissible deduction under Section 37(1) of the Income Tax Act, 1961
ITAT - income tax act - ITAT bangalore - ITAT remands - Remands matters - TAXSCAN

In a recent ruling the Bangalore bench of the Income Tax Appellate Tribunal ( ITAT ) directed the remand of the matter to the AO to analyse whether the payment of the guarantee commission is an admissible deduction under Section 37(1) of the Income Tax Act. The assessee M/s. The Karnataka State Co-operative Agriculture and…

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