TMI Blog2014 (8) TMI 1091X X X X Extracts X X X X X X X X Extracts X X X X ..... uld have been paid - Held that:- Reasoning of the Assessing Officer has been rightly rejected by the Tribunal. It is also noticeable that tax on dividend payment payable by the respondent company was much less than the tax payable by the individual assessee on income under the head ‘Salary’. In case, Renu Munjal had received dividend, she would not have paid any tax on dividend. However, she has p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s condoned. Application stands disposed of. ITA 305/2014 This appeal filed by the revenue has to be dismissed in view of the finding recorded by the Income Tax Appellate Tribunal (?Tribunal?) that payment made to Renu Munjal, Director the assessee company was as per the terms and conditions of employment. Assessing Officer did not invoke provisions of Section 40A(2)(b)(ii) of the Inc ..... X X X X Extracts X X X X X X X X Extracts X X X X
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