Adhoc disallowance of estimated expenses was justified in the absence of substantiation of expenses by assessee ABCAUS Case Law Citation:ABCAUS…
Sales of entire year could not be estimated based on cash found during survey. By no means it could be…
Partners remuneration / interest on capital allowable from estimated profit. ITAT allows deductions following decision of Jurisdictional High Court ABCAUS…
No merit in holding that estimated addition has to be made on account of fall in gross profit rate. ITAT…
Disallowance of entire expenditure on school running was arbitrary and unreasonable. AO was directed to estimate income @20% of gross…
ITAT Lucknow in a recent judgment has held that section 69 of the Income Tax Act, 1961 provides that the assessee must…