Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2015 (4) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (4) TMI 499 - AT - Income TaxRejection of books of account - Disallowance of purchases - Held that:- Following decision of Shri Anuj Kumar Varshney & Ors. Vs. ITO & Ors. [2015 (4) TMI 533 - ITAT JAIPUR] - No merit in the written submission of the assessee to restrict the disallowance to 15%, rejection of books of account is upheld. Thus we hold that the addition qua these unverified purchases shall be restricted to 15%, accordingly, we direct the Assessing Officer to work out the disallowance. - Apropos the remaining expenditures i.e. telephone, travelling and conveyance, we find no infirmity in the orders of lower authorities, which are supported by the above mentioned judicial precedents. Except oral contention assessee could not demonstrate absence of personal element in these expenditures besides the books of account of the assessee remained rejected - Decided partly in favour of assessee.
|