https://www.taxtmi.com/caselaws?id=370770 The Tribunal ruled in favor of the assessee, deleting the disallowances made under section 40A(2)(a) for multiple assessment years and upheld the deletion of the penalty imposed under section 271(1)(c) for a specific assessment year. The Tribunal found that the remuneration paid to whole-time directors was justified, not excessive, and not indicative of tax evasion. Consequently, the disallowances and penalty were deemed unsustainable, leading to a favorable outcome for the assessee in all appeals. en-us Wed, 24 Oct 2018 00:00:00 +0530 Thu, 22 Nov 2018 21:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=370770 The Tribunal ruled in favor of the assessee, deleting the disallowances made under section 40A(2)(a) for multiple assessment years and upheld the deletion of the penalty imposed under section 271(1)(c) for a specific assessment year. The Tribunal found that the remuneration paid to whole-time directors was justified, not excessive, and not indicative of tax evasion. Consequently, the disallowances and penalty were deemed unsustainable, leading to a favorable outcome for the assessee in all appeals. Case-Laws Income Tax Wed, 24 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=370770