HC slams AO for invoking sec. 40A(2) for directors salaries by ignoring their work experience & qualifications

IT: Where AO disallowed a part of salaries paid to directors of assessee-company by invoking provisions of section 40A(2), in view of fact that educational qualifications and work experience of directors were ignored and, moreover, directors had earned income which was taxable at maximum rate of tax and, therefore, it was not a case where an attempt was made to evade taxes, impugned disallowance deserved to be deleted

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