https://www.taxtmi.com/caselaws?id=363065 The ITAT partially allowed the revenue's appeal, disagreeing with the AO's treatment of payments to the holding company as capital in nature and disallowance under section 40(a)(ia) of the IT Act. The ITAT upheld the CIT(A)'s decision to delete additions related to property tax and rent expenses, finding them allowable for business purposes. However, the ITAT set aside issues concerning addition under section 69 of the IT Act and disallowance of guest house expenses for further verification by the AO, emphasizing the need for proper scrutiny and reconciliation. en-us Thu, 05 Jul 2018 00:00:00 +0530 Sat, 07 Jul 2018 10:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=363065 The ITAT partially allowed the revenue's appeal, disagreeing with the AO's treatment of payments to the holding company as capital in nature and disallowance under section 40(a)(ia) of the IT Act. The ITAT upheld the CIT(A)'s decision to delete additions related to property tax and rent expenses, finding them allowable for business purposes. However, the ITAT set aside issues concerning addition under section 69 of the IT Act and disallowance of guest house expenses for further verification by the AO, emphasizing the need for proper scrutiny and reconciliation. Case-Laws Income Tax Thu, 05 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=363065