Dismissing the appeal of the revenue the Tribunal held that , commission payable to manging director in respect of profit for earlier year determined during the year was held to be allowable as deduction. ( AY. 2011-12)
DCIT v. Associated Pigments Ltd. (2018) 61 ITR 553 (Kol) (Trib)
S. 37(1): Business expenditure — Commission crystallised relevant year , therefore allowable as deduction