https://www.taxtmi.com/caselaws?id=248969 The Tribunal allowed the appeal regarding the disallowance of business expenses, directing the AO to consider and allow the claim of the assessee for expenses as regular business expenses after verification. The Tribunal emphasized that these expenses were incurred against regular business income, not the additional income declared during the survey. The appeal was allowed for statistical purposes. The issue of disallowance under section 14 A r.w. rule 8D was dismissed as it was not pursued during the appeal, highlighting the importance of proper verification and merit-based allowance of expenses. en-us Wed, 18 Jun 2014 00:00:00 +0530 Tue, 01 Jul 2014 06:30:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248969 The Tribunal allowed the appeal regarding the disallowance of business expenses, directing the AO to consider and allow the claim of the assessee for expenses as regular business expenses after verification. The Tribunal emphasized that these expenses were incurred against regular business income, not the additional income declared during the survey. The appeal was allowed for statistical purposes. The issue of disallowance under section 14 A r.w. rule 8D was dismissed as it was not pursued during the appeal, highlighting the importance of proper verification and merit-based allowance of expenses. Case-Laws Income Tax Wed, 18 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248969