https://www.taxtmi.com/caselaws?id=397242 The ITAT ruled in favor of the assessee, overturning the disallowance of rent payment under Section 40A(2)(b) of the IT Act. ITAT found that the rented premises were used for business purposes, such as board meetings and correspondence reception, and noted the absence of evidence supporting excessive rent payment. The decision emphasized the necessity of demonstrating a connection between expenses and business activities to prevent disallowances for unreasonable expenditure. en-us Fri, 21 Feb 2020 00:00:00 +0530 Tue, 11 Aug 2020 08:00:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397242 The ITAT ruled in favor of the assessee, overturning the disallowance of rent payment under Section 40A(2)(b) of the IT Act. ITAT found that the rented premises were used for business purposes, such as board meetings and correspondence reception, and noted the absence of evidence supporting excessive rent payment. The decision emphasized the necessity of demonstrating a connection between expenses and business activities to prevent disallowances for unreasonable expenditure. Case-Laws Income Tax Fri, 21 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397242