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2014 (2) TMI 984 - AT - Income TaxDisallowance of expenditure U/s 37 read with Section 40A(3) - Cash payment - disallowance to lower percentage – site development and construction – Held that:- The decision in M/s. Lahari Homes, Hyderabad [2014 (2) TMI 596 - ITAT HYDERABAD] followed - CIT(A) directed the the assessing officer to exclude the cheque payments out of the disallowance and with regard to balance payments, to restrict the disallowance to 15% of cash payments made on account of such items of expenditure which have been considered by the Assessing Officer. In the absence of any material to contradict the findings of the CIT(A) brought on record by the Revenue – there was no infirmity in the impugned order of the CIT(A) – Decided in favour of Revenue.
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