1 itxa6841-10 agk IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.6841 OF 2010 The Commissioner of Income Tax – 2, Mumbai ..Appellant. Versus M/s.Randwin Exim Private Limited ..Respondent. Mr.Vimal Gupta for the appellant. None for the respondent. CORAM : J.P. Devadhar & Smt.R.P. Sondurbaldota, JJ. DATE : 1st July, 2011. P.C. : 1. Whether the Income Tax Appellate Tribunal was justified in allowing the amount of Rs.33,74,068/- as business expenditure under Section 37(1) of the Income Tax Act, 1961 being alleged price difference in export sales quoted and realized in addition to the commission already paid by the assessee is the question raised by the Revenue in this appeal. 2. The Tribunal in para-7 of its judgment has recorded a finding of fact that the price difference was paid as per the contract between the assessee and the agent. The Tribunal has recorded a finding of fact that the payments were made after obtaining necessary permission through banking 2 itxa6841-10 channel. 3. The grievance of the Revenue is that under FEMA, commission in excess of 12% of the total turn-over is not allowable. There is nothing on record to show that the authorities under FEMA have found the payments made by the assessee were in violations of the provisions of FEMA. 4. In this view of the matter, we see no merit in this appeal. The appeal is accordingly dismissed with no order as to costs. (Smt.R.P. Sondurbaldota, J.) (J.P. Devadhar, J.)