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Assessee voluntarily declared income under "income from other sources" in return. AO disallowed deduction claimed for coordination and settlement expenses due to lack of evidence. Assessee's case selected under CASS for claiming deduction under "income from other sources". AO duty-bound to verify deduction claim. Assessee failed to provide proof for expenses/deduction claimed. Income received by assessee, deduction not supported by vouchers. Civil suit filed later, an afterthought to cover mistake. Assessee unwilling to refund received amount or pay legitimate taxes. AO justified in disallowing expenses claimed without supporting evidence, resulting in income for assessee. AO did not err in accepting income disclosed by assessee under "income from other sources". No infirmity in order passed by LD CIT(A)/NFAC, not requiring Tribunal interference. Decided against assessee.
Assessee voluntarily declared income under "income from other sources" in return. AO disallowed deduction claimed for coordination and settlement expenses due to lack of evidence. Assessee's case selected under CASS for claiming deduction under "income from other sources". AO duty-bound to verify deduction claim. Assessee failed to provide proof for expenses/deduction claimed. Income received by assessee, deduction not supported by vouchers. Civil suit filed later, an afterthought to cover mistake. Assessee unwilling to refund received amount or pay legitimate taxes. AO justified in disallowing expenses claimed without supporting evidence, resulting in income for assessee. AO did not err in accepting income disclosed by assessee under "income from other sources". No infirmity in order passed by LD CIT(A)/NFAC, not requiring Tribunal interference. Decided against assessee.
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