Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2018 (6) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (6) TMI 58 - AT - Income TaxDisallowance of expenses u/s.40A(3) - double expenditure - Held that:- We find that the CIT(A) while dealing with the disputed issue of disallowance u/s.40A(3), observed that the disallowance by the AO u/s.40A(3) of the Act pertaining to the same expenses already disallowed by the tax auditor will lead to double taxation. No good reason to interfere with the order of CIT(A) on this issue and the same is upheld. - Decided in favour of assessee. Unexplained expenditure - Held that:- CIT(A) while dealing with the disputed issue has observed that the assessee has proved from the evidences of its regular cash book and bank statement that all the transactions as per seized cash panna are duly recorded in the regular books of accounts and deleted the addition - DR could not bring any new facts on record to controvert the above findings of the CIT(A). - Decided in favour of assessee.
|