Customs Broker association membership becomes mandatory in the operating jurisdiction, with exclusive membership and limited compliance-time relaxatio...
The ITAT Pune held that disallowance u/s 143(1)(a)(iv) can only be made for expenditures indicated in the Audit Report but not considered in income computation. The gratuity payment, not indicated for disallowance, falls outside this provision. The ADIT's disallowance u/s 143(1)(a)(iv) was deemed beyond jurisdiction, leading to the assessee's appeal being allowed.
The ITAT Pune held that disallowance u/s 143(1)(a)(iv) can only be made for expenditures indicated in the Audit Report but not considered in income computation. The gratuity payment, not indicated for disallowance, falls outside this provision. The ADIT's disallowance u/s 143(1)(a)(iv) was deemed beyond jurisdiction, leading to the assessee's appeal being allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
Join Channel
TaxTMI 
