https://www.taxtmi.com/caselaws?id=337488 The Tribunal allowed the appeal of the assessee, overturning the disallowances made by the lower authorities. The delay in filing the appeal was condoned due to circumstances related to a merger, and the issue was decided on merits. The disallowance of expenses under Section 40A(2)(a) was deleted as the transactions between related entities were found to be tax-neutral. Additionally, the adhoc disallowance of certain business expenditures was also deleted as the expenses were deemed genuine and for business purposes, based on available details and precedents. en-us Wed, 09 Nov 2016 00:00:00 +0530 Sun, 08 Jan 2017 21:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=337488 The Tribunal allowed the appeal of the assessee, overturning the disallowances made by the lower authorities. The delay in filing the appeal was condoned due to circumstances related to a merger, and the issue was decided on merits. The disallowance of expenses under Section 40A(2)(a) was deleted as the transactions between related entities were found to be tax-neutral. Additionally, the adhoc disallowance of certain business expenditures was also deleted as the expenses were deemed genuine and for business purposes, based on available details and precedents. Case-Laws Income Tax Wed, 09 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=337488