https://www.taxtmi.com/caselaws?id=361010 The Tribunal ruled in favor of the assessee, finding that the disallowance of remuneration paid to management graduates and the disallowance under Section 43B of the Income Tax Act were not justified. The disallowance for all three years under consideration was deleted, emphasizing that the expenses were incurred wholly and exclusively for business purposes. The Tribunal highlighted that the expenditure should be assessed from a businessman's perspective and cited relevant case laws supporting this principle. The appeals for A.Y. 2008-09 and A.Y. 2009-10 were allowed, while the appeal for A.Y. 2010-11 was dismissed. en-us Thu, 17 May 2018 00:00:00 +0530 Mon, 28 May 2018 08:33:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361010 The Tribunal ruled in favor of the assessee, finding that the disallowance of remuneration paid to management graduates and the disallowance under Section 43B of the Income Tax Act were not justified. The disallowance for all three years under consideration was deleted, emphasizing that the expenses were incurred wholly and exclusively for business purposes. The Tribunal highlighted that the expenditure should be assessed from a businessman's perspective and cited relevant case laws supporting this principle. The appeals for A.Y. 2008-09 and A.Y. 2009-10 were allowed, while the appeal for A.Y. 2010-11 was dismissed. Case-Laws Income Tax Thu, 17 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361010