Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2021 (8) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2021 (8) TMI 8 - AT - Income TaxEstimated Disallowance of Revenue Expenditure - CIT(A) has sustained the disallowances partly on adhoc basis - HELD THAT:- It is settled law that disallowances cannot be made on surmises and conjectures The power of Ld.CIT(A) are co-terminus. with that of.AO. CIT(A) has grossly erred in not making the enquiry, he was of the opinion should have been conducted. Moreover, the reasoning that the expenditure incurred on building repair, repair & maintenance and labour charges, in this regard bring about an expenditure of capital nature on an adhoc basis is not sustainable on the basis of material brought on record. This is more so, when assessee has already capitalized ₹ 59,22,000/- in this regard. Hence, we set aside the order of authorities below and allow the assessee’s ground.
|