https://www.taxtmi.com/highlights?id=75190 Disallowance of payments to related party u/s 40A(2)(b) - The ITAT observed that, from the working of corporate service charges for the financial year 2005-06, we find that in the present case, the assessee paid a Royalty of Rs. 84 lakh, which is 0.05% of the turnover of Rs. 1449.40 crore and is even less than 0.3% of the turnover considered reasonable by the AO. - The Tribunal deleted the disallowance of Royalty payment made by the AO. en-us Mon, 26 Feb 2024 07:42:39 +0530 Mon, 26 Feb 2024 07:42:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=75190 Disallowance of payments to related party u/s 40A(2)(b) - The ITAT observed that, from the working of corporate service charges for the financial year 2005-06, we find that in the present case, the assessee paid a Royalty of Rs. 84 lakh, which is 0.05% of the turnover of Rs. 1449.40 crore and is even less than 0.3% of the turnover considered reasonable by the AO. - The Tribunal deleted the disallowance of Royalty payment made by the AO. Highlights Income Tax Mon, 26 Feb 2024 07:42:39 +0530 https://www.taxtmi.com/highlights?id=75190