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ITAT held that no disallowance can be made in respect of expenditure not claimed by the assessee. As the assessee asserted that no expenditure for the period post 25.03.2017 was debited or claimed, the issue of pro-rata allocation of expenses relating to the slump sale period 25.03.2017 to 31.03.2017 was remanded to the AO for factual verification of both entities' books and audited financials and for fresh adjudication after due hearing. On employees' contribution to PF, ITAT held that payment made on the next working day when the due date fell on a Sunday is deemed timely; the related disallowance was deleted. Disallowances of software expenditure and consultancy fees were confirmed as revenue in nature allowable u/s 37(1), and the Revenue's grounds were rejected.
ITAT held that no disallowance can be made in respect of expenditure not claimed by the assessee. As the assessee asserted that no expenditure for the period post 25.03.2017 was debited or claimed, the issue of pro-rata allocation of expenses relating to the slump sale period 25.03.2017 to 31.03.2017 was remanded to the AO for factual verification of both entities' books and audited financials and for fresh adjudication after due hearing. On employees' contribution to PF, ITAT held that payment made on the next working day when the due date fell on a Sunday is deemed timely; the related disallowance was deleted. Disallowances of software expenditure and consultancy fees were confirmed as revenue in nature allowable u/s 37(1), and the Revenue's grounds were rejected.
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