Tribunal held that since there was no finding that employees were either partners or shareholders of assessee, assessee’s claim was to be allowed, the Assessing Officer is directed to factually verify certificate issued by auditor and allow deduction. As regards cash credits the assessee has filed additional evidence, hence the matter is remanded to the Assessing Officer. (AY. 2013-14)
Karam Singh Malik. v. ITO (2023) 198 ITD 678 (SMC) (Delhi) (Trib.)
S. 36(1)(ii):Bonus or commission-Bonus paid to employees-No finding-Certificate from Auditor-Assessing Officer was to be directed to factually verify certificate issued by auditor and allow deduction-Cash credits-Additional evidence-Matter is remanded to the Assessing Officer. [S. 68]