TMI Blog2017 (9) TMI 1520X X X X Extracts X X X X X X X X Extracts X X X X ..... the conclusion that their salary / fees have been rightly increased to the tune of 250% to 300%, the addition has been deleted. We are of the considered view that AO has objectively thrashed the issue by enhancing the salary/fee of the directors by 25% to 30% and CIT (A) has erred in deleting the addition on the basis of conjectures and surmises. So, in these circumstances, we hereby allow the appeal filed by the Revenue. - ITA No.5243/Del./2014 - - - Dated:- 29-8-2017 - SHRI B.P. JAIN, ACCOUNTANT MEMBER AND SHRI KULDIP SINGH, JUDICIAL MEMBER For The ASSESSEE : Shri Rakesh K. Aggarwal, FCA For The REVENUE : Shri Arun Kumar Yadav, Senior DR ORDER PER KULDIP SINGH, JUDICIAL MEMBER : Appellant, Deputy Commi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 10-11 -do- 73,57,484 13,76,000 3. AO, being dis-satisfied with the explanation furnished by the assessee company, made addition of ₹ 45,90,748/- by disallowing the same u/s 40A(2)(b) of the Income-tax Act, 1961 (for short the Act ) by granting reasonable increase in the range of 25% to 30% as against 250% to 300% claimed by the assessee. 4. Assessee carried the matter before the ld. CIT (A) by way of an appeal who has deleted the addition of ₹ 45,90,748/- by partly allowed the appeal. Feeling aggrieved, the Revenue has come up before the Tribunal by way of challenging the impugned order passed by ld. CIT (A). 5. We have heard the ld. Authorized Representatives ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y as has been made during the year under assessment. Whereas when assessee company has paid salary to Shri Tilak Mukherji and Dr. U.V. Somayajulu to the tune of ₹ 14,32,391/-, ₹ 27,81,720/- ₹ 73,57,484 in FY 2008-09, 2009-10 2010-11 respectively and fees paid to Shri Arindam Ganguly to the tune of ₹ 1,82,500/-, ₹ 4,05,000/- ₹ 13,76,000/- in FY 2008-09, 2009-10 2010-11 respectively which is an increase in the range of 250% to 300% without explaining that if there was a change in the nature of their work or they have put more time while rendering services to the assessee company or they have improved their qualification or expertise in one year. Because when Shri Tilak Mukherji and Dr. U.V. Somayaju ..... X X X X Extracts X X X X X X X X Extracts X X X X
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