https://www.taxtmi.com/caselaws?id=269071 Alleged bogus purchases were considered only to the extent actually recorded in the books, because the factual finding on verified book entries was not disturbed by any contrary material, and the disallowance was sustained only to that recorded amount. Commission paid to directors was treated as part of a consistent remuneration arrangement; with declared dividends, tax paid on them, and no proved nexus to dividend avoidance, the payment was accepted as genuine and the disallowance under section 36(1)(ii) was deleted. The Revenue's challenge failed on both issues, and the relief granted by the first appellate authority was maintained. en-us Wed, 30 Sep 2015 00:00:00 +0530 Tue, 08 Dec 2015 13:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269071 Alleged bogus purchases were considered only to the extent actually recorded in the books, because the factual finding on verified book entries was not disturbed by any contrary material, and the disallowance was sustained only to that recorded amount. Commission paid to directors was treated as part of a consistent remuneration arrangement; with declared dividends, tax paid on them, and no proved nexus to dividend avoidance, the payment was accepted as genuine and the disallowance under section 36(1)(ii) was deleted. The Revenue's challenge failed on both issues, and the relief granted by the first appellate authority was maintained. Case-Laws Income Tax Wed, 30 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269071