2017 (9) TMI 2032 - HC - Income Tax

Addition u/s 40A - excessive payment made to the Directors of the Company - excess rebate and discount - disallowance of bad debts - ad-hoc disallowance of expenses as not verifiable in the absence of books of accounts, supporting bills and vouchers - ITAT deleted addition - HELD THAT - All are questions of fact, which have been considered by Tribunal and decided against appellant recording its finding in favour of Assessee by confirming with order passed by Commissioner Income Tax (Appeals). Since there is a concurrent finding of facts, we do not find that any substantial questions of law has arisen.

Summary

The High Court dismissed the appeal under Section 260-A of the Income Tax Act, 1961. The appellant raised four substantial questions of law regarding disallowances and deletions made by the Income Tax Appellate Tribunal. The Court found these to be questions of fact already considered by the Tribunal, leading to the dismissal of the appeal.