https://www.taxtmi.com/caselaws?id=240067 Disallowance under section 40A(2) depends on credible material showing that payments to specified persons are excessive or unreasonable against fair market value, business need, or benefit derived. On that principle, logo fee, interest, overseas commission, royalty, and directors' commission were accepted as genuine business payments where the Revenue failed to prove excessiveness. Foreign travel expenses were disallowed because the assessee's business nexus was adequately supported, while legal fees for foreign patent registration were treated as revenue in nature because they protected existing intellectual property rather than creating a new capital asset. The assessee succeeded on the substantive issues overall. en-us Fri, 25 Oct 2013 00:00:00 +0530 Mon, 25 Nov 2013 00:52:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240067 Disallowance under section 40A(2) depends on credible material showing that payments to specified persons are excessive or unreasonable against fair market value, business need, or benefit derived. On that principle, logo fee, interest, overseas commission, royalty, and directors' commission were accepted as genuine business payments where the Revenue failed to prove excessiveness. Foreign travel expenses were disallowed because the assessee's business nexus was adequately supported, while legal fees for foreign patent registration were treated as revenue in nature because they protected existing intellectual property rather than creating a new capital asset. The assessee succeeded on the substantive issues overall. Case-Laws Income Tax Fri, 25 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240067