https://www.taxtmi.com/caselaws?id=364969 The Income Tax Appellate Tribunal (ITAT) partially allowed the appeal, directing the Assessing Officer (AO) to verify payments to determine if they were made as salaries to employees or as Fee for Technical Services (FTS). The ITAT also instructed verification of business purpose for consultancy charges disallowed under section 37(1), emphasizing proper consideration of documentary evidence and granting a reasonable opportunity for the assessee to be heard. The decision aimed at ensuring fair assessment and examination of disallowances under section 40(a)(i) and section 37(1) of the Act, as well as addressing the issue of full credit for taxes paid/deducted. en-us Mon, 06 Aug 2018 00:00:00 +0530 Fri, 21 Sep 2018 18:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=364969 The Income Tax Appellate Tribunal (ITAT) partially allowed the appeal, directing the Assessing Officer (AO) to verify payments to determine if they were made as salaries to employees or as Fee for Technical Services (FTS). The ITAT also instructed verification of business purpose for consultancy charges disallowed under section 37(1), emphasizing proper consideration of documentary evidence and granting a reasonable opportunity for the assessee to be heard. The decision aimed at ensuring fair assessment and examination of disallowances under section 40(a)(i) and section 37(1) of the Act, as well as addressing the issue of full credit for taxes paid/deducted. Case-Laws Income Tax Mon, 06 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=364969