https://www.taxtmi.com/caselaws?id=421773 Form 26A and related statutory verification material can entitle an assessee to relief from disallowance under section 40(a)(ia) where the recipient has included the income in its return, but the matter must be verified on facts; the interest paid to NBFCs was therefore remanded for de novo consideration. Salary paid to directors was also remanded because the assessee later produced Form 26A supporting the proviso to section 201(1). Rent disallowance was deleted to the extent supported by the leave and licence agreement, which showed annual rent of Rs. 1,50,000. An ad hoc disallowance from diesel, petrol, oil and freight expenses was deleted for want of a rational basis. en-us Fri, 08 Apr 2022 00:00:00 +0530 Mon, 02 May 2022 08:42:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421773 Form 26A and related statutory verification material can entitle an assessee to relief from disallowance under section 40(a)(ia) where the recipient has included the income in its return, but the matter must be verified on facts; the interest paid to NBFCs was therefore remanded for de novo consideration. Salary paid to directors was also remanded because the assessee later produced Form 26A supporting the proviso to section 201(1). Rent disallowance was deleted to the extent supported by the leave and licence agreement, which showed annual rent of Rs. 1,50,000. An ad hoc disallowance from diesel, petrol, oil and freight expenses was deleted for want of a rational basis. Case-Laws Income Tax Fri, 08 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421773