There should be some evidence on the basis of which the action ...
Income Tax
June 20, 2015
There should be some evidence on the basis of which the action of the AO can be held to be justified to show that the expenses are unreasonable or excessive u/s 40A(2)(b). In the absence of any such evidence, an adhoc disallowance of 5% has rightly been rejected by the CIT(A) - AT
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