ITAT Directs AO to allow Commission paid to Agents as Business Expense

Jai Trading Company Vs ITO (ITAT Kolkata) The case of Jai Trading Company vs. Income Tax Officer (ITAT Kolkata) for the assessment year 2014-15 revolves around the disallowance of commission and brokerage expenses claimed by the assessee. This article provides a detailed analysis of the order passed by ITAT Kolkata, examining the grounds of appeal, facts of the case, arguments presented, and the final decision. Detailed Analysis The assessee, Jai Trading Company, filed its return of income for the assessment year 2014-15, declaring income of Rs. 9,60,518/-. However, during the assessment proce...