1999 (3) TMI 22 - HC - Income Tax

Summary

The High Court of Kerala upheld the Chief Commissioner of Income-tax's decision to disallow 30% of a chartered accountant's bill for audit work, approving 70% as expenses. The assessment for the year 1992-93 resulted in a tax of Rs. 7,60,433. The court found no arbitrariness in the bill and dismissed the petition challenging the order.