Ad hoc disallowance of expenses - the disallowance @ 25% made by ...

Income Tax

June 30, 2021

Ad hoc disallowance of expenses - the disallowance @ 25% made by the A.O. is on the higher side, since the assessee is a limited company and its accounts are being audited - the non-production of details and vouchers was also not appropriate. It is settled proposition that the onus to prove the claim would lie upon the shoulders of the assessee - disallowance of expenses may be reduced to 12.5% and the same would meet the ends of justice. - AT

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Ad hoc disallowance of expenses - the disallowance @ 25% made by ...

Income Tax

June 30, 2021

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