https://www.taxtmi.com/caselaws?id=299773 The ITAT dismissed the Revenue's appeal and upheld the CIT(A)'s decision to delete the addition under section 40A(2)(b) of the Income Tax Act related to a payment made to Cosmos Foundation. The ITAT emphasized that since there was no contrary order from the High Court, the Tribunal's ruling in the assessee's favor was binding on the Revenue authorities. This decision reaffirmed the importance of adherence to Tribunal decisions in the absence of conflicting higher court orders. en-us Thu, 18 Mar 2021 00:00:00 +0530 Wed, 29 Dec 2021 08:44:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299773 The ITAT dismissed the Revenue's appeal and upheld the CIT(A)'s decision to delete the addition under section 40A(2)(b) of the Income Tax Act related to a payment made to Cosmos Foundation. The ITAT emphasized that since there was no contrary order from the High Court, the Tribunal's ruling in the assessee's favor was binding on the Revenue authorities. This decision reaffirmed the importance of adherence to Tribunal decisions in the absence of conflicting higher court orders. Case-Laws Income Tax Thu, 18 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299773