Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2017 (6) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (6) TMI 1296 - ITAT DELHIDisallowance of expenses at 25% of the total expenses - addition u/s 69C being the unexplained expenditure - HELD THAT:- DR supported the view point of the AR that a reasonable estimate of disallowance of expenses could be made in such peculiar circumstances when the books of account are not available and the details with the assessee cannot help in making the assessment properly. On a further query, AR submitted that this was the only year in which the assessee carried on business. This indicates that there are no comparable figures for the earlier years from which some assistance could be taken to finalise the assessment. Considering we are of the considered opinion that in such peculiar circumstances it would be just and fair if the ad hoc disallowance of expenses made by the Assessing Officer at 25% be reduced to 12.5%. - Decided in favour of assessee.
|