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2017 (6) TMI 1311 - HC - Income TaxAllowable business expenses - HELD THAT:- Taking into consideration that the business has gone almost four time and payment was made through account payee cheque, in our considered opinion, the business expenses is wrongly disallowed. Hence, the first issue is required to be answered in favour of the assessee and he ought to have been allowed the expenses which is arising out of the business exigency and in that view of the matter, the observations made in case of S.A. Builders Ltd. vs. Commissioner of Income Tax (Appeals) [2006 (12) TMI 82 - SUPREME COURT] the expenses are required to be allowed.
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