2023 (7) TMI 15

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..... MBER: The assessee has filed this appeal challenging the order of the CIT(A)-33, Mumbai, relating to assessment year 2010-11. This appeal was disposed off by the Tribunal vide its order dated 31.10.2022. Since the Tribunal did not adjudicate Ground no.7 urged by the assessee, he filed a Miscellaneous Application. Accordingly, the above said order was re-called by the Tribunal vide its order dated .....

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..... 3,73,288/-. 3. In the appellate proceedings, the learned CIT(A) held that the action of the Assessing Officer in rejecting the books of account is not acceptable. With regard to the expenses disallowed by the Assessing Officer, the learned CITA) restricted the disallowance to 50% of the expenses. Still aggrieved, the assessee has contested the decision of the learned CIT(A) on this issue before t .....

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..... s claimed by the assessee. Accordingly, we are of the view that this issue can be put to rest if the disallowance is restricted to 5% of the aggregate amount of expenses, which works out to Rs.1,48,330/-. Accordingly, we set aside the order passed by the learned CIT(A) on this issue and direct the Assessing Officer to restrict the disallowance to the above said amount. 5. In the result, Ground no .....

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