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Income Tax - Highlights / Catch Notes

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Disallowance of expenses - Tribunal has observed that the AO has ...


Tribunal Upholds AO's Decision to Disallow 25% of Expenses Due to Missing Vouchers; Assessee's Appeal Dismissed.

May 8, 2023

Case Laws     Income Tax     HC

Disallowance of expenses - Tribunal has observed that the AO has disallowed 25% of the expenses claimed under the heads consumables, power/fuel, packing, freight, miscellaneous, telephone, conveyance, travelling etc. as no vouchers were produced for expenditure claimed - Tribunal has rightly dismissed the appeal(s) of the assessee - HC

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