https://www.taxtmi.com/caselaws?id=379472 The High Court of Bombay upheld the Tribunal's decision, ruling in favor of the Assessee in a case involving the disallowance of expenses claimed under Section 40A(2) of the Income Tax Act, 1961. The Court found the expenses to be legitimate and necessary for the business, agreeing with the Tribunal's interpretation of the law. The Appeals challenging the disallowance were dismissed, affirming the Assessee's right to claim the expenses amounting to Rs. 4,74,29,222. en-us Tue, 30 Apr 2019 00:00:00 +0530 Thu, 02 May 2019 11:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379472 The High Court of Bombay upheld the Tribunal's decision, ruling in favor of the Assessee in a case involving the disallowance of expenses claimed under Section 40A(2) of the Income Tax Act, 1961. The Court found the expenses to be legitimate and necessary for the business, agreeing with the Tribunal's interpretation of the law. The Appeals challenging the disallowance were dismissed, affirming the Assessee's right to claim the expenses amounting to Rs. 4,74,29,222. Case-Laws Income Tax Tue, 30 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379472