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Disallowance u/s 40A(2) - Educational qualifications and work experience of the directors were ignored as irrelevant because of the low salary/remuneration benevolently and magnanimously accepted by them in the earlier years - Professional and fair conduct in earlier years should not frowned to be treated as a ground to disallow fair and genuine payment u/s 40A(2)(a)

Income Tax
4-4-2019

Disallowance u/s 40A(2) - Educational qualifications and work experience of the directors were ignored as irrelevant because of the low salary/remuneration benevolently and magnanimously accepted by them in the earlier years - Professional and fair conduct in earlier years should not frowned to be treated as a ground to disallow fair and genuine payment u/s 40A(2)(a)

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