TMI BlogDisallowance of expenses made u/s.37(1) - disallowance of expenditure on adhoc basis made by the ld. AO...Disallowance of expenses made u/s.37(1) - disallowance of expenditure on adhoc basis made by the ld. AO by giving a categorical finding that the ld. AO had not even whispered in the assessment order as to how a particular expenditure of the assessee is excessive and not incurred for the purpose of business u/s.37(1) - the incurrence of business expenditure whether it is commensurate with the business receipts earned thereof is of absolutely no relevance to decide the allowability of business expenditure. - AT ..... X X X X Extracts X X X X X X X X Extracts X X X X
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