S. 40A(2)(b) : Expenses or payments not deductible-Excessive or unreasonable-Remuneration of directors of Private company-Directors paying taxes at maximum rate-Disallowance of payment in excess of 20 Per Cent. of net Profit not sustainable.

S. 40A(2)(b) : Expenses or payments not deductible-Excessive or unreasonable-Salary to directors and daughter-in-law-Not justified in partly disallowing salary payments.

S. 40A(2) : Expenses or payments not deductible-Excessive or unreasonable-International Transactions-Deduction of tax at source-External commercial borrowing from Foreign Company-Assessee Liable to Deduct Tax on Interest Payment-Grossing up tax deducted portion with interest paid and claiming deduction-Contrary to inter-party agreement and law. [S. 92C]

S. 40A(2) : Expenses or payments not deductible-Excessive or unreasonable-Commission-Allowable as deduction.

S. 40A(2) : Expenses or payments not deductible-Excessive or unreasonable-Interest-Higher rate-Business urgency-allowable as deduction [S. 37(1), 40A(2)(b)]

S. 40A(2) : Expenses or payments not deductible-Excessive or unreasonable-Rent to partners-Business activities carried out from the said premises-Order of CIT(A) deleting the addition was affirmed. [S. 37(1), 40A(2)(b)]

S. 40A(2) : Expenses or payments not deductible-Excessive or unreasonable-Rate of 18 percent-Bank charges at 15 percent-Disallowance is not justified. [S. 40A(2)(a)]

S. 40A(2) : Expenses or payments not deductible-Excessive or unreasonable Salaries to related parties-Assessing Officer failed to give fair market value to show excessiveness-Invocation fundamentally wrong-Payment allowable.

S. 40(a)(ii) : Amounts not deductible-Rates or tax-Education cess and secondary and higher education cess deductible.

S. 40(a)(ii) : Amounts not deductible-Rates or tax-Net interest paid to bank-As per terms of the agreement-Withholding tax-Matter remanded for verification. [S. 37(1)]