Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2013 (3) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2013 (3) TMI 125 - PUNJAB & HARYANA HIGH COURTAddition u/s 40A(2)(b) - ITAT deleted the addition - assessee Hindu Undivided Family is a proprietor of M/s Essma Woolen Mills - ITAT set aside the findings recorded by the AO - Held that:- Section 40A(2) authorizes the authorities under the Act to disallow the deduction, if it is found that such expenditure is excessive or unreasonable. It will be a question of fact in each case whether the expenditure claimed as a deduction is excessive or unreasonable. Though the Assessing Officer has found the expenditure as excessive but not only the CIT (A), Amritsar, but also the Tribunal did not found part of such expenditure as excessive or unreasonable. No substantial question of law for consideration by this Court.
|