Section 40A(2)(b) of Income Tax Act not applicable just because partners are directors in related company. Overlapping roles insufficient.

Section 40A(2)(b) of Income Tax Act not applicable just because partners are directors in related company. Overlapping roles insufficient. https://www.taxtmi.com/highlights?id=16891 Addition on account of sale of units - provisions of section 40A(2)(b) is not attracted merely because partners of Kaypee Developers are also directors of the assessee-company. - AT en-us Wed, 22 Jan 2014 08:57:39 +0530 Wed, 22 Jan 2014 08:57:39 +0530 TaxTMI RSS Generator Section 40A(2)(b) of Income Tax Act not applicable just because partners are directors in related company. Overlapping roles insufficient. https://www.taxtmi.com/highlights?id=16891 Addition on account of sale of units - provisions of section 40A(2)(b) is not attracted merely because partners of Kaypee Developers are also directors of the assessee-company. - AT Highlights Income Tax Wed, 22 Jan 2014 08:57:39 +0530 https://www.taxtmi.com/highlights?id=16891