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2012 (5) TMI 763 - HC - Income TaxDisallowance of salary expenses - Held that:- Salaries were reasonable and commensurate with the qualifications and work done by each employee. Bogus share application money - Held that:- Assessing Officer who did not conduct any further investigation/verification or record statements. In the remand report, it was stated that the assessment order was passed on the basis of the information received from the investigation unit/wing. No further material or evidence to controvert the assessee was placed on record. The assessee had filed an affidavit of one Tarun Goel stating that the respondent/assessee had not arranged for bogus/accommodation entries as stated by the Assessing Officer.
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