ITAT upholds deletion of section 40A(3) Addition for bonus payments

JCIT Vs S.V. Balasubramani HUF (ITAT Chennai) Introduction: This article discusses an income tax appeal filed by the assessee against the order of the Commissioner of Income Tax (Appeals)-18, Chennai, dated 08.02.2023, related to the assessment year 2013-14. The appeal revolves around the disallowance of bonus payments and the disallowance of cash expenditure under section 40A(3) of the Income-tax Act, 1961. Grounds of Appeal: The assessee raised several grounds of appeal, challenging the Commissioner of Income Tax (Appeals)’s order. The primary issues include the Commissioner’s de...