https://www.taxtmi.com/caselaws?id=264561 The ITAT ruled in favor of the assessee, directing the AO to delete the disallowance under section 40A(3) of the Act, as payments to individual sellers did not exceed the limit and were supported by evidence. Additionally, the ITAT instructed the AO to delete the disallowance on the purchase of land, criticizing the flawed reasoning of the AO and CIT(A). The ITAT also restricted the disallowance under section 14A to a lower amount and directed the AO to only disallow car and telephone expenses, overturning the CIT(A)'s decision on business promotion expenses. en-us Wed, 02 Sep 2015 00:00:00 +0530 Fri, 25 Sep 2015 12:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=264561 The ITAT ruled in favor of the assessee, directing the AO to delete the disallowance under section 40A(3) of the Act, as payments to individual sellers did not exceed the limit and were supported by evidence. Additionally, the ITAT instructed the AO to delete the disallowance on the purchase of land, criticizing the flawed reasoning of the AO and CIT(A). The ITAT also restricted the disallowance under section 14A to a lower amount and directed the AO to only disallow car and telephone expenses, overturning the CIT(A)'s decision on business promotion expenses. Case-Laws Income Tax Wed, 02 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=264561