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Section 40A(2)(b) disallowance without proving that payments are over & above market rates are not valid
Case Law Details
- Case Name
- DCIT Vs M/s Interarch Building Products (P) Ltd. (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2009-10
- Courts
- All ITAT, ITAT Delhi
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DCIT Vs M/s Interarch Building Products (P) Ltd. (ITAT Delhi)
The relevant part of the order of the ld. CIT (A) on this issue pertaining to payments made to Mr . Arvind Nanda, with regard to the vehicle purchase, payment made to M/s Intertec on account of job work and the rental payments has been examined. For the sake of ready reference, the relevant part of the order is reproduced as under:
“6.4 Regarding Ground No. 3 of the appeal relating to disallowance under section 40 A(2)(b), I find that the Ld. AO has identified certain payments aggregating to Rs.2.29 crores in resp...
