Section 40A(2)(a) applies to payments to directors with substantial interest in company

DCIT Vs Quantum Advisors Pvt. Ltd. (ITAT Mumbai)

ITAT Mumbai held that provisions of section 40A(2)(a) of the Income Tax Act are applicable in cases, wherein, the director of subsidiary company, to whom payment has been made, has substantial interest in the assessee.

Please become a Premium member. If you are already a Premium member, login here to access the full content.