https://www.taxtmi.com/highlights?id=65158 Addition u/s 40A(2) - Allegation of Excessive price paid to related parties - The provisions of section 40A(2) of the Act applies for making disallowance of expenses for payments, which have been claimed as deduction in computation of profit & loss account of business and it shall not apply for income or gains under any circumstances. - the addition made on account of shifting of profit of the assessee company to its sister concern, a partnership firm is without any basis - Additions deleted - AT en-us Thu, 18 Aug 2022 17:57:59 +0530 Thu, 18 Aug 2022 17:57:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=65158 Addition u/s 40A(2) - Allegation of Excessive price paid to related parties - The provisions of section 40A(2) of the Act applies for making disallowance of expenses for payments, which have been claimed as deduction in computation of profit & loss account of business and it shall not apply for income or gains under any circumstances. - the addition made on account of shifting of profit of the assessee company to its sister concern, a partnership firm is without any basis - Additions deleted - AT Highlights Income Tax Thu, 18 Aug 2022 17:57:59 +0530 https://www.taxtmi.com/highlights?id=65158