https://www.taxtmi.com/caselaws?id=332489 The Appellate Tribunal ITAT Mumbai ruled in favor of the assessee for both appeals, allowing legitimate business expenditures for the respective assessment years. The Tribunal emphasized the genuine nature of the transactions, the business purposes behind the payments, and the lack of evidence to support the disallowance of expenditures based solely on EOW proceedings. The disallowed amounts for A.Y. 2004-05 and A.Y. 2003-04 were directed to be allowed as legitimate business expenditure. en-us Mon, 08 Aug 2016 00:00:00 +0530 Mon, 19 Sep 2016 11:16:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=332489 The Appellate Tribunal ITAT Mumbai ruled in favor of the assessee for both appeals, allowing legitimate business expenditures for the respective assessment years. The Tribunal emphasized the genuine nature of the transactions, the business purposes behind the payments, and the lack of evidence to support the disallowance of expenditures based solely on EOW proceedings. The disallowed amounts for A.Y. 2004-05 and A.Y. 2003-04 were directed to be allowed as legitimate business expenditure. Case-Laws Income Tax Mon, 08 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=332489