https://www.taxtmi.com/caselaws?id=260674 The Tribunal dismissed the Revenue's appeal challenging the deletion of disallowance on account of royalty and advertisement expenses under Section 40A(2)(b) of the Income Tax Act, emphasizing the lack of evidence to prove excessiveness or unreasonableness in the payments made for legitimate business purposes. Additionally, the Tribunal allowed the assessee's appeal against the disallowance of interest paid to Anant Raj Industries, highlighting that the funds advanced to sister concerns were from the assessee's own revenues and not borrowed funds, thus establishing the business purpose of the transactions. The Tribunal underscored the importance of considering commercial expediency and rejected the Revenue's appeals in both instances. en-us Wed, 10 Jun 2015 00:00:00 +0530 Sat, 07 Nov 2015 16:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260674 The Tribunal dismissed the Revenue's appeal challenging the deletion of disallowance on account of royalty and advertisement expenses under Section 40A(2)(b) of the Income Tax Act, emphasizing the lack of evidence to prove excessiveness or unreasonableness in the payments made for legitimate business purposes. Additionally, the Tribunal allowed the assessee's appeal against the disallowance of interest paid to Anant Raj Industries, highlighting that the funds advanced to sister concerns were from the assessee's own revenues and not borrowed funds, thus establishing the business purpose of the transactions. The Tribunal underscored the importance of considering commercial expediency and rejected the Revenue's appeals in both instances. Case-Laws Income Tax Wed, 10 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260674