https://www.taxtmi.com/caselaws?id=392391 The Tribunal upheld the CIT(A)'s decision regarding the disallowance of business loss, deletion of disallowance of payment to a related party, disallowance of bonus payments, and deletion of addition of share capital. The business was found to have commenced following regulatory approval, the related party provisions were not applicable for the assessment year, bonuses were paid before the due date, and further verification was required to establish creditworthiness of the shareholder. The appeals were partly allowed for statistical purposes, with specific issues remitted back to the AO for further examination. en-us Mon, 10 Feb 2020 00:00:00 +0530 Wed, 19 Feb 2020 16:03:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392391 The Tribunal upheld the CIT(A)'s decision regarding the disallowance of business loss, deletion of disallowance of payment to a related party, disallowance of bonus payments, and deletion of addition of share capital. The business was found to have commenced following regulatory approval, the related party provisions were not applicable for the assessment year, bonuses were paid before the due date, and further verification was required to establish creditworthiness of the shareholder. The appeals were partly allowed for statistical purposes, with specific issues remitted back to the AO for further examination. Case-Laws Income Tax Mon, 10 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392391