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2021 (1) TMI 874 - AT - Income TaxDisallowance u/s 40A(2)(b) - diversion of income by the appellant to CCCPL and from CCCPL to CCCPL’s directors - HELD THAT:- As the documents placed by the Ld. AR reveals the receipt of professional fees of CCCPL to the doctors for carrying out research work and non-research work to particularly being part of the annual accounts which was somehow missed out by the Hon’ble Bench while deciding the issue which is an error apparent on the face of the records and thus further consideration on this issue is required. It was obviously not open to disregard a Co-ordinate Bench decision said to be directly on the issue – particularly when Bench’s attention was specifically drawn to the same. We, thus, find substance in the argument advance by the Ld. Senior Counsel appearing for the assessee and the miscellaneous application is, therefore, allowed to that extent. Ground therefore, have to be adjudicated afresh.
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