Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2019 (11) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (11) TMI 1301 - BOMBAY HIGH COURTDisallowance of the assessee’s claim of exemption in respect of profit on sale / redemption of investments - Addition u/s 14A - HELD THAT:- Appeal admitted on substantial of law. Disallowance of 25% of Bogus Risk Inspection Survey Expenses after necessary calculation, as the assessee has failed to substantiate its expense and there is absence of evidence of services being rendered, generation of bogus bills etc. - HELD THAT:- Inspection and survey charges claimed by the Assessee which is an insurance company. AO, on the basis of statement of the Surveyor recorded by him, came to the conclusion that some of the persons had not actually discharged any duty for the Assessee – Company but had merely provided accommodation entries. Tribunal, by the impugned Judgment, restricted the disallowance to 25% on the ground that there was evidence only with respect to part of the claim namely in relation to the inspection charges. The entire issue is based on appreciation of evidence and no question of law arises. This additional question, therefore, is not entertained.
|