Cooperative society deposits, member-interest TDS exemption and credit-facility deduction claims require verification through records and supporting e...
Customs jurisdiction over EPCG condition breaches survives export-obligation discharge certificates, requiring alleged fraud and misdeclaration to be ...
Contractual tolerance requires consideration; breach recoveries, qualifying public infrastructure services and road works escape service tax liability...
Personal hearing requirements in GST adjudication were satisfied by prior opportunities and written submissions; appellate limitation received writ-pe...
Income under the head 'business and profession' would be earned by incurring relevant expenditure. While unjustified expenditure could be disallowed, there are limits to the documentation and evidence a normal business would maintain. The assessee meticulously maintained documents, deducted tax at source on payments to vendors executing turnkey projects. The CIT(A) failed to appreciate the limits on evidence a business entity would have to justify expenditure. The assessee provided detailed documents justifying the expenditure incurred. Relying on judicial precedents, the burden of proof on the assessee regarding proving expenditure u/s 37(1) has limits and cannot be mainly disallowed on the grounds adopted by the Assessing Officer. Disallowance u/s 37(1) was deleted, decided in favor of the assessee.
Income under the head 'business and profession' would be earned by incurring relevant expenditure. While unjustified expenditure could be disallowed, there are limits to the documentation and evidence a normal business would maintain. The assessee meticulously maintained documents, deducted tax at source on payments to vendors executing turnkey projects. The CIT(A) failed to appreciate the limits on evidence a business entity would have to justify expenditure. The assessee provided detailed documents justifying the expenditure incurred. Relying on judicial precedents, the burden of proof on the assessee regarding proving expenditure u/s 37(1) has limits and cannot be mainly disallowed on the grounds adopted by the Assessing Officer. Disallowance u/s 37(1) was deleted, decided in favor of the assessee.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
