https://www.taxtmi.com/caselaws?id=279991 The ITAT allowed the appeal against the disallowance of Rs. 60,00,000 paid to M/s. Global Properties, emphasizing the genuine nature of the transaction as a legitimate business decision by the assessee. The decision overturned the CIT(A)'s ruling, noting the absence of evidence indicating impropriety in the payment. The judgment focused on the transaction's legitimacy, leading to the favorable outcome for the assessee without addressing other tax provisions raised by the AO. en-us Fri, 09 Jun 2017 00:00:00 +0530 Tue, 16 Apr 2019 14:33:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279991 The ITAT allowed the appeal against the disallowance of Rs. 60,00,000 paid to M/s. Global Properties, emphasizing the genuine nature of the transaction as a legitimate business decision by the assessee. The decision overturned the CIT(A)'s ruling, noting the absence of evidence indicating impropriety in the payment. The judgment focused on the transaction's legitimacy, leading to the favorable outcome for the assessee without addressing other tax provisions raised by the AO. Case-Laws Income Tax Fri, 09 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279991