https://www.taxtmi.com/caselaws?id=397202 The Tribunal allowed the Assessee's appeal despite being time-barred by 09 days, condoning the delay due to a valid explanation. It upheld the Assessee's position on disallowance of interest on delayed payment, considering it a business loss. Additionally, the Tribunal found the Director's remuneration reasonable and justifiable, overturning the disallowance by lower authorities. Ultimately, the Tribunal set aside the lower authorities' decisions on both issues, ruling in favor of the Assessee. en-us Thu, 30 Jul 2020 00:00:00 +0530 Sat, 08 Aug 2020 13:37:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397202 The Tribunal allowed the Assessee's appeal despite being time-barred by 09 days, condoning the delay due to a valid explanation. It upheld the Assessee's position on disallowance of interest on delayed payment, considering it a business loss. Additionally, the Tribunal found the Director's remuneration reasonable and justifiable, overturning the disallowance by lower authorities. Ultimately, the Tribunal set aside the lower authorities' decisions on both issues, ruling in favor of the Assessee. Case-Laws Income Tax Thu, 30 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397202