Disallowance U/s. 40A(2)(b) not justified without proving that expense incurred by assessee is excessive

Advertisement ITO Vs Media Satellite & Telecom Ltd, (ITAT Delhi) In this cse AO could not show that the expenditure incurred by the assessee is excessive or unreasonable providing market comparative price with respect to the fair market value of the goods. The ld AO could not show that without offering the discount the goods are saleable and are not in accordance with the legitimate needs of the business of the assessee. In absence of these the ld AO could not have applied the provisions of section 40A(2)(b) of the Act. In view of this we do not find any infirmity in the order of the ld...