AO disallowed professional fees paid to doctors citing lack of...

AO disallowed professional fees paid to doctors citing lack of evidence regarding their role as consultants, researchers or advisors. CIT(A) deleted disallowance noting assessee provided logbook, agreements, summary sheets, brochures, manuals and research papers. Tribunal upheld CIT(A)'s order. Regarding disallowance u/s 14A for investments, assessee had sufficient funds as evident from bank statement showing share capital proceeds and mutual fund investments. Tribunal upheld CIT(A)'s deletion of disallowance. For administrative expenses disallowed u/s 14A read with Rule 8D, Tribunal opined AO and CIT(A) failed to record dissatisfaction before applying Rule 8D's third component relating to administrative expenses.