Disallowance of payment to related parties under section 40A(2) can be made only for amount proved to be in excess of fair market value

IT: Disallowance of payment to related parties under section 40A(2) can be made only for amount proved to be in excess of fair market value

IT: Payment cannot be disallowed where tax deducted at source on payments is deposited after end of year,
but before due date of filing return


[2013] 35 taxmann.com 74 (Ahmedabad - Trib.)

IN THE ITAT AHMEDABAD BENCH 'D'

Assistant Commissioner of Income-tax, Circle - 5, Ahmedabad

v.

Ashok J. Patel