9911796707
TMI Blog2020 (2) TMI 1627X X X X Extracts X X X X X X X X Extracts X X X X ..... R N.K. BILLAIYA, ACCOUNTANT MEMBER, This appeal by the assessee is preferred against the order of the CIT(A)-2, New Delhi dated 15.10.2019 pertaining to A.Y 2015-16. 2. The solitary grievance of the assessee is that the CIT(A) erred in confirming the disallowance of Rs. 9,26,66,708/- paid to Shri Ashutosh Sharma as bonus. 3. During the course of scrutiny assessment proceedings, the assessee co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d. CIT(A) followed the directions given by the DRP in Assessment Year 2013-14 and deleted the disallowance of bonus. 8. Per contra, the ld. DR stated that the facts of the case in hand are distinguishable from the fats of Assessment Year 2013-14 and 2014- 15. The ld. DR read the relevant portion of the assessment order. 9. We have carefully considered the orders of the authorities below. We have ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... findings of the ld. CIT(A) in Assessment Year 2014- 15 read as under: 7.4 I have carefully considered the observation of the Assessing Officer and submission of the Appellant. I find force in the submission of the) Appellant. There is no law, which required that terms of employment must be specified in letter of appointment. Even otherwise Mr. Ashutosh Sharma, the recipient of the bonus must ha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cannot be disallowed unless it is found to be not wholly and exclusively incurred for the purposes of business. The AO is therefore directed delete the disallowance on this account." 11. As no distinguishing decision has been brought to our notice, respectfully following the stand taken in earlier years, we direct the Assessing Officer to delete the impugned disallowance. 12. In the result, th ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
