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2013 (11) TMI 815 - AT - Income TaxDisallowance of expenditure towards electricity and furnace oil - AO disallowed 25% of the expenditure incurred towards electricity and furnace oil in the respective assessment years on the reason that Assessee has not substantiated claim – Held that:- AO has no basis to disallow the expenditure, particularly, when he was completing assessments based on search & seizure operation. There is no iota of information that Assessee has either inflated or suppressed production - The expenditure is reasonable and payments have been made by way of cheques to various public sector undertakings, which can be verified by the AO, if he intended to do so – Decided against the Revenue.
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