Undisclosed overseas deposits - We keep in mind all these ...
Income Tax
May 15, 2021
Undisclosed overseas deposits - We keep in mind all these peculiar facts and circumstances more particularly the fact that such religion congregations indeed involve day to day running expenses and hold that a lumpsum disallowance of 50% of the expenses in all these assessment years would meet the ends of justice (including 30% already made) with a rider that the same shall not be treated as a precedent in other case. AO is directed to allow 50% of the assessee’s expenses claimed in consequential computation as per law within three effective opportunities of hearing therefore. - AT
View Source
