The Chennai Bench of Income Tax Appellate Tribunal (ITAT) has upheld the disallowance under Section 40(a)(i) of the Income Tax Act 1961, as there was no separate agreement between the Eshakthi and its non-resident US subsidiary for reimbursement of expenses. The assessee, Eshakti.Com Pvt. Limited had reimbursed professional charges of Rs.164.04 Lacs and advertisement expenses…
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