Disallowance of salary expenses u/s 40A(2)(b) to relatives of ...

Income Tax

November 25, 2023

Disallowance of salary expenses u/s 40A(2)(b) to relatives of the Directors - AO cannot sit on the arm chair of the assessee-company`s Board of Directors and decide that who is reliable persons and how much salary is to be paid for the loyalty. - Payment of salary by assessee does not exceed the fair market value prevailing in the market - Additions deleted - AT

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Disallowance of salary expenses u/s 40A(2)(b) to relatives of ...

Income Tax

November 25, 2023

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