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2021 (2) TMI 550 - HC - Income TaxDisallowance of expenses being 10% of the expenses paid to port workers as incentives - books of account have been accepted are not rejected by pointing to any defects therein - as per assessee entire expenditure is supported by documentary evidence on the facts and circumstances of the case - HELD THAT:- In the absence of any challenge to the entries made in the books of accounts by the authorities, in our opinion, the finding recorded by the Assessing Officer as well as the Tribunal that it denied the claim of the assessee for expenditure to the extent of 10% on account of payment of speed money, is perverse as the same is duly supported by the documentary evidence. Insofar as the submission made by revenue that Commissioner the assessee himself had restricted the payment of speed money to 10% is concerned, it is pertinent to note that the restriction was made by the assessee in respect of Assessment Year 2004 05 and from the grounds of memorandum of appeal before the Tribunal, we find that the assessee had challenged the aforesaid finding which is evident from paragraphs 1 and 2, therefore, the aforesaid submission is of no assistance to the revenue. Substantial question of law involved in this appeal is answered against the revenue and in favour of the assessee.
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