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The Income Tax Appellate Tribunal in Mumbai is reviewing appeals by Edwise Consultants Pvt. Ltd. regarding disallowances of director incentives and depreciation for assessment years 2008-09 to 2010-11. The tribunal noted that the assessing officer had previously disallowed similar payments, citing excessive claims under section 40A(2)(a) of the Income Tax Act. The case highlights the necessity for the assessing officer to evaluate the reasonableness of payments made to directors based on the fair market val

Author

Kush Nahata

Language

EN