2017 (11) TMI 269

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....th Mr. Pranjal Srivastava, Advs.for the Respondent ORDER The Revenue claims to be aggrieved by the order of the ITAT to set aside the addition made on re-assessment of the fair market value under Section 37 of the Income Tax Act, 1961 as to the remuneration paid to the assessee's Executive Director Shri Abhinav Kumar under Section 40A(2)(b). In doing so, the ITAT relied upon the previous rul....

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.... the relative youth and perceived inexperience of the Executive Director. Hive Communication Pvt. Ltd. (supra) has broadly indicated the correct approach to be adopted in such cases i.e. one of commercial expediency and the arms length to be adopted by the AO in evaluating claims by the assessee. This Court also notices that the Supreme Court ruling in Commissioner of Income Tax, West Bengal v.....