https://www.taxtmi.com/caselaws?id=788581 Disallowance of payments to specified persons under section 40A(2)(b) requires objective material showing excessiveness or unreasonableness against fair market value; a mechanical year-to-year increase or absence of comparable evidence is insufficient, and the payments were therefore treated as allowable. Foreign travel expenditure under section 37 must be tested on whether it was incurred wholly and exclusively for business; where travel records, client correspondence and reimbursement support business purpose, a blanket disallowance is not sustainable. The assessment relief deleting both additions was accordingly sustained. en-us Fri, 13 Mar 2026 00:00:00 +0530 Wed, 25 Mar 2026 08:49:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788581 Disallowance of payments to specified persons under section 40A(2)(b) requires objective material showing excessiveness or unreasonableness against fair market value; a mechanical year-to-year increase or absence of comparable evidence is insufficient, and the payments were therefore treated as allowable. Foreign travel expenditure under section 37 must be tested on whether it was incurred wholly and exclusively for business; where travel records, client correspondence and reimbursement support business purpose, a blanket disallowance is not sustainable. The assessment relief deleting both additions was accordingly sustained. Case-Laws Income Tax Fri, 13 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788581