https://www.taxtmi.com/caselaws?id=68137 The Appellate Tribunal ITAT Jaipur dismissed the Revenue's appeal and partially allowed the Assessee's appeal concerning the assessment year 1989-90. The disallowance of hiring charges and polishing charges under section 40A(2)(b) of the IT Act was the main issue. The Tribunal upheld the deletion of disallowances by the CIT(A) for hiring charges and polishing charges, emphasizing the reasonableness and fair market value of the charges. The Tribunal directed the Assessing Officer to consider certain bonus payments and sales-tax liabilities while reducing the disallowance of Diwali gifts and confirming disallowances of specific expenses based on usage and previous assessments. en-us Tue, 31 May 1994 00:00:00 +0530 Wed, 16 Mar 2011 18:38:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68137 The Appellate Tribunal ITAT Jaipur dismissed the Revenue's appeal and partially allowed the Assessee's appeal concerning the assessment year 1989-90. The disallowance of hiring charges and polishing charges under section 40A(2)(b) of the IT Act was the main issue. The Tribunal upheld the deletion of disallowances by the CIT(A) for hiring charges and polishing charges, emphasizing the reasonableness and fair market value of the charges. The Tribunal directed the Assessing Officer to consider certain bonus payments and sales-tax liabilities while reducing the disallowance of Diwali gifts and confirming disallowances of specific expenses based on usage and previous assessments. Case-Laws Income Tax Tue, 31 May 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68137