Addition u/s 40A(2)(b) - purchase of the lands from the ...

Case Laws Income Tax

September 2, 2021

Addition u/s 40A(2)(b) - purchase of the lands from the Directors at excessive rate - These decisions are all commercial decisions, which have to be taken by the assessee, and it is not for the Assessing Officer to sit in the arm-chair of the assessee and suggest the ways and means to run their business as long as there is no unlawful activity, which has been alleged to have been done by the assessee. - the decision to purchase the lands from the Directors at excessive rate was a prudent commercial decision taken by the assessee company. - HC

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Addition u/s 40A(2)(b) - purchase of the lands from the ...

Case Laws Income Tax

September 2, 2021

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