ITAT reduces disallowance for commission paid by stamp vendor to 25%

Mushtak Khan Vs ITO (ITAT Indore) We observe that the assessee is into this business as stamp vendor since last many years and Appeal is against disallowance of commission expenditure claimed by the assessee to have been paid to various customers/registry consultants purchasing the stamp papers. Now as far as the expenditure for commission of is concerned assessee’s claim is that the growth in this line of business solely depends on adopting commercial trade practice and to follow the system prevalent in this line of business of selling the stamp papers with requires that in order to retain ...