https://www.taxtmi.com/caselaws?id=380263 The Tribunal upheld the CIT's decision regarding the allowability of the payment of Rs. 10 crores to Bellary DC as business expenditure, disagreeing with the CIT's characterization of it as a donation. The Tribunal directed the AO to re-examine cash payments made under Section 40A(3) and disallowed the provision for group incentive to staff, emphasizing the need for further verification. However, the Tribunal allowed the prior period adjustments, instructing the AO to verify the accrual of these liabilities. The appeal was partly allowed, limiting the inquiry to specific items and directing a denovo assessment for the remaining issues. en-us Fri, 25 Jan 2019 00:00:00 +0530 Fri, 17 May 2019 09:00:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380263 The Tribunal upheld the CIT's decision regarding the allowability of the payment of Rs. 10 crores to Bellary DC as business expenditure, disagreeing with the CIT's characterization of it as a donation. The Tribunal directed the AO to re-examine cash payments made under Section 40A(3) and disallowed the provision for group incentive to staff, emphasizing the need for further verification. However, the Tribunal allowed the prior period adjustments, instructing the AO to verify the accrual of these liabilities. The appeal was partly allowed, limiting the inquiry to specific items and directing a denovo assessment for the remaining issues. Case-Laws Income Tax Fri, 25 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380263