https://www.taxtmi.com/caselaws?id=293751 The Tribunal partly allowed the appeals for A.Y 2006-07 and 2007-08, remanding several issues back to the AO for fresh consideration. Disallowance of expenses related to South Elegant Limited (SEL) was upheld due to lack of original agreements and non-existence of SEL. Various claims under different heads were either disallowed or restricted, with the Tribunal emphasizing the need for verification of details. Remuneration paid to the Managing Director was allowed, while rent received from a sister concern and the applicability of Section 201 were remanded back for further verification. en-us Fri, 30 Nov 2012 00:00:00 +0530 Sat, 27 Feb 2021 13:47:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293751 The Tribunal partly allowed the appeals for A.Y 2006-07 and 2007-08, remanding several issues back to the AO for fresh consideration. Disallowance of expenses related to South Elegant Limited (SEL) was upheld due to lack of original agreements and non-existence of SEL. Various claims under different heads were either disallowed or restricted, with the Tribunal emphasizing the need for verification of details. Remuneration paid to the Managing Director was allowed, while rent received from a sister concern and the applicability of Section 201 were remanded back for further verification. Case-Laws Income Tax Fri, 30 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293751