https://www.taxtmi.com/caselaws?id=301677 The ITAT allowed the appeal, directing the Assessing Officer to delete the disallowance of the bonus paid to Shri Ashutosh Sharma, amounting to Rs. 9,26,66,708 for the assessment year 2015-16. The ITAT relied on previous years' decisions where similar disallowances were later deleted based on directions from the DRP and CIT(A), holding that the bonus was incurred wholly and exclusively for the purposes of business. As no distinguishing decision was presented, the ITAT followed precedent and ruled in favor of the assessee, deleting the impugned disallowance. en-us Tue, 25 Feb 2020 00:00:00 +0530 Fri, 15 Apr 2022 08:52:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=301677 The ITAT allowed the appeal, directing the Assessing Officer to delete the disallowance of the bonus paid to Shri Ashutosh Sharma, amounting to Rs. 9,26,66,708 for the assessment year 2015-16. The ITAT relied on previous years' decisions where similar disallowances were later deleted based on directions from the DRP and CIT(A), holding that the bonus was incurred wholly and exclusively for the purposes of business. As no distinguishing decision was presented, the ITAT followed precedent and ruled in favor of the assessee, deleting the impugned disallowance. Case-Laws Income Tax Tue, 25 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=301677