Case Law Details
Case Name : Trinity Global Enterprises Ltd. Vs ITO (ITAT Delhi)
Related Assessment Year : 2011-12
Courts :
All ITAT ITAT Delhi
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Trinity Global Enterprises Ltd. Vs ITO (ITAT Delhi)
ITAT Delhi held that supervision and management charges paid to sister concern (i.e. related parties) doesn’t attract section 40A(2)(b) of the Income Tax Act as AO failed to prove the payment as unreasonable and excessive. Accordingly, charges duly allowed.
Facts- AO observed that the assessee had issued 1500000 shares of Rs.10 each on a premium of Rs.50/- per share and received Rs.90,00,000/- during the year. Based on the information furnished by
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