https://www.taxtmi.com/caselaws?id=288285 The tribunal upheld the decision to delete the disallowance of professional fees for the assessment year 2009-10. It found that the payment in question was made out of commercial expediency and not to a specified person under sec. 40A(2)(b) of the Act. Emphasizing that the assessing officer cannot rely on mere suspicion or inferences, the tribunal held that the expenditure should be judged from a businessman's perspective. Ultimately, the tribunal agreed with the Ld CIT(A) that the payment was reasonable and made in accordance with agreed terms, leading to the deletion of the disallowance. en-us Tue, 01 Mar 2016 00:00:00 +0530 Sat, 30 May 2020 11:11:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288285 The tribunal upheld the decision to delete the disallowance of professional fees for the assessment year 2009-10. It found that the payment in question was made out of commercial expediency and not to a specified person under sec. 40A(2)(b) of the Act. Emphasizing that the assessing officer cannot rely on mere suspicion or inferences, the tribunal held that the expenditure should be judged from a businessman's perspective. Ultimately, the tribunal agreed with the Ld CIT(A) that the payment was reasonable and made in accordance with agreed terms, leading to the deletion of the disallowance. Case-Laws Income Tax Tue, 01 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288285