https://www.taxtmi.com/caselaws?id=349530 The ITAT upheld the CIT(A)'s decision, ruling in favor of the assessee in both issues. For the disallowance of expenditure under the subscription deposit scheme, the ITAT found the deposits were legitimately used for business purposes, saving interest costs, and increasing profits. Regarding the disallowance under Section 40A(2)(b) of the Income Tax Act for payments to related parties, the ITAT remanded the case to the AO for further examination to determine if the payments were excessive or unreasonable. The appeals for various assessment years were partly allowed for statistical purposes. en-us Thu, 12 Oct 2017 00:00:00 +0530 Mon, 16 Oct 2017 11:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=349530 The ITAT upheld the CIT(A)'s decision, ruling in favor of the assessee in both issues. For the disallowance of expenditure under the subscription deposit scheme, the ITAT found the deposits were legitimately used for business purposes, saving interest costs, and increasing profits. Regarding the disallowance under Section 40A(2)(b) of the Income Tax Act for payments to related parties, the ITAT remanded the case to the AO for further examination to determine if the payments were excessive or unreasonable. The appeals for various assessment years were partly allowed for statistical purposes. Case-Laws Income Tax Thu, 12 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=349530