Disallowance 40A(2)

  • Income Tax

Disallowance u/s 40A(2)(b)-Excess over FMV to be seen as per legitimate needs of business

Disallowance u/s 40A(2)(b) AO has to form opinion if expenses more than FMV according to legitimate needs of business. ABCAUS…

4 years ago
  • Income Tax

Disallowance u/s 40A(2) for unreasonable increase in directors remuneration deleted

Disallowance u/s 40A(2) for unreasonable increase in directors remuneration deleted as AO not carried out exercise to determine fair remuneration…

5 years ago