High Court of Bombay at Goa Dismisses Revenue's Appeal in Income Tax Case — No Disallowance Under Section 40A(2) for Purchase from Subsidiary at Contractual Rates. Purchase at higher than market rate from subsidiary justified due to assured quantity and quality under contract, and no tax avoidance as both entities taxed at same rate.
19 Oct 2010The Commissioner of Income Tax appealed against an order of the Income Tax Appellate Tribunal (ITAT) confirming the deletion of a disallowance of Rs.4...




