https://www.taxtmi.com/caselaws?id=312437 The Court upheld the ITAT's decision, dismissing the Revenue's appeal and ruling in favor of the assessee, a multi-specialty hospital. The Court confirmed that the AO's disallowance of Rs. 66,54,726 under Section 40A(2) of the Income Tax Act, 1961, for service charges paid to the assessee's holding company, was unjustified. The ITAT found no evidence supporting the AO's claim of excessive or unreasonable payment. The Court agreed, noting the absence of material evidence to substantiate the AO's opinion, thereby affirming the ITAT's order without imposing costs. en-us Thu, 12 Oct 2023 00:00:00 +0530 Sat, 17 Feb 2024 06:51:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312437 The Court upheld the ITAT's decision, dismissing the Revenue's appeal and ruling in favor of the assessee, a multi-specialty hospital. The Court confirmed that the AO's disallowance of Rs. 66,54,726 under Section 40A(2) of the Income Tax Act, 1961, for service charges paid to the assessee's holding company, was unjustified. The ITAT found no evidence supporting the AO's claim of excessive or unreasonable payment. The Court agreed, noting the absence of material evidence to substantiate the AO's opinion, thereby affirming the ITAT's order without imposing costs. Case-Laws Income Tax Thu, 12 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312437