AO can’t make 100% disallowance u/s 40(A)(2(b) on payment made to related parties: Delhi ITAT

INCOME TAX: Section 40A(2)(b) does not envisage complete disallowance of expenditure unless it is proved to be excessive or unreasonable having regard to fair market value. Where no such finding with regard to excess payment had been established by revenue while invoking provisions of section 40A(2)(b), disallowance made was to be deleted

from www.taxmann.com Latest Case Laws https://www.taxmann.com/topstories/101010000000194578/ao-can’t-make-100-disallowance-us-40a2b-on-payment-made-to-related-parties-delhi-itat.aspx