https://www.taxtmi.com/caselaws?id=429754 The Tribunal partly allowed the appeals, remitting various issues back to the Assessing Officer for verification. It held that payments to Directors disclosed in their individual returns and taxes paid should not be disallowed under Section 40(a)(ia). The Assessee was permitted to claim depreciation on motor vehicles registered in Directors' names for business use. The Tribunal also ruled in favor of the Assessee regarding dual disallowance under Sections 40(a)(ia) and 40A(3), disallowing "Pannallur Minister Expenses" under Section 37(1), and remitting the matter of interest payments for further verification under Section 40A(3). en-us Wed, 07 Sep 2022 00:00:00 +0530 Fri, 04 Nov 2022 08:52:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429754 The Tribunal partly allowed the appeals, remitting various issues back to the Assessing Officer for verification. It held that payments to Directors disclosed in their individual returns and taxes paid should not be disallowed under Section 40(a)(ia). The Assessee was permitted to claim depreciation on motor vehicles registered in Directors' names for business use. The Tribunal also ruled in favor of the Assessee regarding dual disallowance under Sections 40(a)(ia) and 40A(3), disallowing "Pannallur Minister Expenses" under Section 37(1), and remitting the matter of interest payments for further verification under Section 40A(3). Case-Laws Income Tax Wed, 07 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429754