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2014 (2) TMI 370 - AT - Income TaxDisallowance of unverifiable cash expenses - Held that:- All the expenses incurred by the assessee toward the same, whether reimbursed separately by his clients or not, would be eligible for deduction u/s. 37(1) or any other specific provision of the Act in the computation of the business income u/s.28 - The assessee failed to substantiate his claim that a profit to that extent (25%) could not be possible in the claim made by it on its customers, who reimburse the said expenses - Decided against assessee. Compensation paid - Held that:- This is a case of application of income enjoined by the assessee's father through a testamentary document - There is no scope for claiming the same either as a business deduction u/s. 37(1) or u/s.28, and the same stands rightly disallowed - Decided against assessee. Disallowance u/s 40A(2)(a) - Held that:- The assessee has not discharged the onus on it to establish that the expenditure has been incurred wholly and exclusively for the purposes of his business - The expenditure has not been allowed by the Revenue in earlier years as well - The assessee has failed to prove the genuineness and bonafide of the expenses - Decided against assessee.
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