https://www.taxtmi.com/caselaws?id=399956 The ITAT partly allowed the appeal by the assessee, remitting the issues back to the AO for re-examination. The disallowance under Section 14A was found disproportionate, requiring a review of direct and indirect expenses. The non-reconciliation of AIR information was to be verified for accuracy. The disallowance of bonus to directors was to be reassessed for potential tax avoidance, considering relevant case law and tax implications. The ITAT emphasized providing the assessee with a fair opportunity to present their case. en-us Wed, 14 Oct 2020 00:00:00 +0530 Fri, 23 Oct 2020 15:44:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399956 The ITAT partly allowed the appeal by the assessee, remitting the issues back to the AO for re-examination. The disallowance under Section 14A was found disproportionate, requiring a review of direct and indirect expenses. The non-reconciliation of AIR information was to be verified for accuracy. The disallowance of bonus to directors was to be reassessed for potential tax avoidance, considering relevant case law and tax implications. The ITAT emphasized providing the assessee with a fair opportunity to present their case. Case-Laws Income Tax Wed, 14 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399956