No Income Tax Deduction Allowable for Commission Payments Without Examination/Verification of Agreement between Payer and Dealers: ITAT [Read Order]

By Ipsita Das - On August 20, 2023 5:00 pm - 3 mins read

Income Tax Deduction - Income Tax - Deduction - Commission Payments - Commission - Examination - Verification - Agreement between Payer and Dealers - Payer and Dealers - ITAT - Taxscan

The Bangalore Bench of Income Tax Appellate Tribunal (ITAT) held that the Assessment Order allowing deduction of commission payments has been passed without verification, which should have been made, and the Principal Commissioner of Income Tax (PCIT) was well within the jurisdiction to have invoked the revisionary powers under Section 263 of the Income Tax…

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