https://www.taxtmi.com/caselaws?id=251178 The Tribunal overturned the disallowance of payments made by the assessee to BBMP, ruling that the sub-lease transaction was genuine and commercially viable. The Tribunal found no basis for the AO's conclusion that the assessee was merely an intermediary. Legal precedents were referenced to support legitimate tax planning, and the Tribunal directed that the losses claimed by the assessee be allowed. The appeals by the assessee were successful, and the disallowance of payments to BBMP was reversed. en-us Thu, 28 Aug 2014 00:00:00 +0530 Sat, 06 Sep 2014 09:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251178 The Tribunal overturned the disallowance of payments made by the assessee to BBMP, ruling that the sub-lease transaction was genuine and commercially viable. The Tribunal found no basis for the AO's conclusion that the assessee was merely an intermediary. Legal precedents were referenced to support legitimate tax planning, and the Tribunal directed that the losses claimed by the assessee be allowed. The appeals by the assessee were successful, and the disallowance of payments to BBMP was reversed. Case-Laws Income Tax Thu, 28 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251178