https://www.taxtmi.com/caselaws?id=219351 The Appellate Tribunal dismissed the Revenue's appeal against the Commissioner of Income Tax (Appeals) decision to delete the disallowance under section 40A(2) for the assessment year 2008-09. The disallowance of Rs. 2,12,77,744/- was found unjustified as there was no evidence of excess payment to related parties for leather purchases. The Tribunal emphasized the flawed approach of the Assessing Officer and upheld the Commissioner's decision, stating that the rates paid to related parties fell within a reasonable range. Additionally, the Tribunal found no violation of Rule 46A in the examination of fresh evidence submitted by the assessee, affirming the Commissioner's decision on this ground as well. en-us Thu, 26 Jul 2012 00:00:00 +0530 Mon, 15 Oct 2012 16:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219351 The Appellate Tribunal dismissed the Revenue's appeal against the Commissioner of Income Tax (Appeals) decision to delete the disallowance under section 40A(2) for the assessment year 2008-09. The disallowance of Rs. 2,12,77,744/- was found unjustified as there was no evidence of excess payment to related parties for leather purchases. The Tribunal emphasized the flawed approach of the Assessing Officer and upheld the Commissioner's decision, stating that the rates paid to related parties fell within a reasonable range. Additionally, the Tribunal found no violation of Rule 46A in the examination of fresh evidence submitted by the assessee, affirming the Commissioner's decision on this ground as well. Case-Laws Income Tax Thu, 26 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219351