https://www.taxtmi.com/caselaws?id=444488 The court ruled in favor of the appellant/assessee on the issue of salary disallowance under Section 40A(2)(b) of the Income Tax Act, remanding the matter to the AO to allow the appellant/assessee to present evidence justifying the salary payments. However, on the issue of disallowance of interest on interest-free loans and advances, the court upheld the disallowance, agreeing with the AO, CIT(A), and Tribunal that the advances were for non-business purposes, thus justifying the interest disallowance. en-us Fri, 13 Oct 2023 00:00:00 +0530 Thu, 11 Jan 2024 12:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444488 The court ruled in favor of the appellant/assessee on the issue of salary disallowance under Section 40A(2)(b) of the Income Tax Act, remanding the matter to the AO to allow the appellant/assessee to present evidence justifying the salary payments. However, on the issue of disallowance of interest on interest-free loans and advances, the court upheld the disallowance, agreeing with the AO, CIT(A), and Tribunal that the advances were for non-business purposes, thus justifying the interest disallowance. Case-Laws Income Tax Fri, 13 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444488