https://www.taxtmi.com/caselaws?id=286756 The Tribunal overturned the disallowance of Director's salary, exclusion of sales tax set-off, allegation of inflated purchases, and penalty imposition under section 271(1)(c) by the Assessing Officer. The Tribunal found the salary payments were genuine business expenses, the sales tax set-off exclusion was unwarranted, the inflated purchases allegation was unfounded, and penalties lacked justification. Consequently, the Tribunal directed the deletion of all disallowances and penalties, ruling in favor of the assessee in multiple assessment years. en-us Wed, 31 Aug 2016 00:00:00 +0530 Sat, 14 Mar 2020 11:12:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286756 The Tribunal overturned the disallowance of Director's salary, exclusion of sales tax set-off, allegation of inflated purchases, and penalty imposition under section 271(1)(c) by the Assessing Officer. The Tribunal found the salary payments were genuine business expenses, the sales tax set-off exclusion was unwarranted, the inflated purchases allegation was unfounded, and penalties lacked justification. Consequently, the Tribunal directed the deletion of all disallowances and penalties, ruling in favor of the assessee in multiple assessment years. Case-Laws Income Tax Wed, 31 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286756