https://www.taxtmi.com/caselaws?id=274117 The Tribunal ruled in favor of the appellant, a private limited company, allowing the nomination fees debited to the P&L account for the assessment years 2011-12 & 2012-13. The disallowance was overturned based on the essential nature of the fees for securing business, supported by business benefits and genuine expenditure. However, the Tribunal upheld the levy of interest under sections 234B, 234C & 234D of the Act. The decision was partially in favor of the appellant, with the judgment delivered in Chennai on May 18, 2018. en-us Fri, 18 May 2018 00:00:00 +0530 Sun, 29 Jul 2018 11:40:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=274117 The Tribunal ruled in favor of the appellant, a private limited company, allowing the nomination fees debited to the P&L account for the assessment years 2011-12 & 2012-13. The disallowance was overturned based on the essential nature of the fees for securing business, supported by business benefits and genuine expenditure. However, the Tribunal upheld the levy of interest under sections 234B, 234C & 234D of the Act. The decision was partially in favor of the appellant, with the judgment delivered in Chennai on May 18, 2018. Case-Laws Income Tax Fri, 18 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=274117