Tag: adhoc disallowance
Penalty u/s 270A can not be levied for additions made on estimation basis. Penalty on the basis of findings in quantum proceedings not independently examined can not be sustained. ABCAUS Case Law Citation:ABCAUS 3861 (2024) (02) ITAT Important Case Laws relied upon by parties:Jai Balaji Business Corporation Pvt. …
Addition of Mobilization Advances based on gross receipts as per 26AS statement deleted as mobilization advance was offered to tax over the life of the project ABCAUS Case Law Citation:ABCAUS 3763 (2023) (06) ITAT In the instant case, the Department had challenged the order passed by the CIT(A) …
Adhoc disallowance of estimated expenses was justified in the absence of substantiation of expenses by assessee ABCAUS Case Law Citation:ABCAUS 3670 (2023) (02) ITAT Important Case Laws relied upon by parties:Deputy Commissioner of Income Tax vs. M/s Bhawani Portfolio Pvt. Ltd. In the instant case, the assessee had …
A company cannot have any personal expenditure. ITAT deleted ad hoc disallowance on vehicle running and maintenance expenditure ABCAUS Case Law Citation:ABCAUS 3146 (2019) (09) ITAT In the instant case, one of the issue was related to ad-hoc disallowance being 10% of the vehicle repairs and maintenance expenditure. …
No further disallowance when income is computed u/s 44AD. ITAT directs AO to make assessment u/s 44AD as desired by assessee who earlier declared lower net profits ABCAUS Case Law Citation: ABCAUS 2989 (2019) (06) ITAT The only issue in this appeal filed by the assessee was against …
Ad-hoc disallowance not within permissible arena of taxing statute which is essentially welfare in nature – ITAT ABCAUS Case Law Citation:ABCAUS 2671 (2018) (12) ITAT Important Case Laws Cited/reliedupon:M/s Bajaj Auto Centre, Kanpur vs. Income Tax Officer M/s Bhullar Oxygen Pvt. Ltd. vs. Income TaxOfficer The appeal was …
The assessee was not prejudiced when AO disallowed only 10% of expenses instead of rejecting the books u/s 145 and pass best judgment assessment order under Section 144- High Court ABCAUS Case Law Citation: ABCAUS 2488 (2018) 08 HC The instant appeal was filed by assessee against the …
Self-made vouchers would not make expenses not genuine unless they do not carry necessary details like address of the recipient or signature-ITAT deleted the adhoc disallowance. ABCAUS Case Law Citation: ABCAUS 2295 (2018) (04) ITAT The appellant assessee had challeneged the order passed by the Commissioner of Income …
