https://www.taxtmi.com/caselaws?id=371422 The Tribunal upheld disallowances of professional fees paid to Preroy AG, foreign air travel expenses for the director's wife, and directed limited disallowance under section 14A of the Income Tax Act. It emphasized the necessity of clear evidence for expenses to be considered business-related and aligned its decisions with previous judgments. The Tribunal also ruled against charging interest under section 234D for refunds granted before the section's enactment. Overall, the judgment focused on substantiation of expenses and adherence to legal principles, resulting in the disallowance of various expenses for lack of sufficient proof of business purpose. en-us Mon, 19 Nov 2018 00:00:00 +0530 Tue, 04 Dec 2018 08:59:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371422 The Tribunal upheld disallowances of professional fees paid to Preroy AG, foreign air travel expenses for the director's wife, and directed limited disallowance under section 14A of the Income Tax Act. It emphasized the necessity of clear evidence for expenses to be considered business-related and aligned its decisions with previous judgments. The Tribunal also ruled against charging interest under section 234D for refunds granted before the section's enactment. Overall, the judgment focused on substantiation of expenses and adherence to legal principles, resulting in the disallowance of various expenses for lack of sufficient proof of business purpose. Case-Laws Income Tax Mon, 19 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371422