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TMI Blog2022 (1) TMI 1040X X X X Extracts X X X X X X X X Extracts X X X X ..... to an altogether different assessee, namely, M/s. Shilpi Engineering Pvt. Ltd., who has no link with the assessee in appeal. Entire case made out by the AO for disallowing 15% of the Labour charge is ill-founded, we cannot sustain the disallowance so made by the AO. It is worth noting that the CIT(A) took note of the fact that the assessee had incurred some expenses without verifiable vouchers ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the head 'Labour charges'. 3. Tersely stated, the facts of the case are that the assessee is an Engineering Contractor. During the course of the assessment proceedings, it was observed by the AO that the assessee debited ₹ 2.40 crore as Labour charges in its Profit and loss account. Profit for the year at 5.60% was found to be at lower side. On being called upon to explain as to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... puting this fact, held that some of the expenses incurred by the assessee under this head were not properly verifiable. He, therefore, restricted the disallowance from 15% as made by the AO to 7.5%, which resulted into sustenance of the addition at ₹ 18,06,027/-. The assessee has come up in appeal against this addition. 4. Having heard the rival submissions through Virtual Court and gone ..... X X X X Extracts X X X X X X X X Extracts X X X X
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