https://www.taxtmi.com/caselaws?id=178309 Electric power expenditure already capitalised and depreciated could not again be claimed as revenue deduction, so the disallowance was sustained. Foreign travelling expenses, interest and consultancy/professional charges were also disallowed because the assessee failed to produce full supporting evidence and establish business nexus. Garden expenses were allowed as bills and vouchers showed business purpose, and the percentage disallowance was deleted. An estimated profit addition could not survive where no cogent defect in the books was shown beyond the absence of a day-to-day consumption register, so the deletion was affirmed. Penalty under section 271(1)(c) was not leviable because all primary facts were disclosed and the dispute involved a bona fide difference on allowability of expenditure. en-us Fri, 09 Jan 2015 00:00:00 +0530 Tue, 02 Feb 2016 10:15:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178309 Electric power expenditure already capitalised and depreciated could not again be claimed as revenue deduction, so the disallowance was sustained. Foreign travelling expenses, interest and consultancy/professional charges were also disallowed because the assessee failed to produce full supporting evidence and establish business nexus. Garden expenses were allowed as bills and vouchers showed business purpose, and the percentage disallowance was deleted. An estimated profit addition could not survive where no cogent defect in the books was shown beyond the absence of a day-to-day consumption register, so the deletion was affirmed. Penalty under section 271(1)(c) was not leviable because all primary facts were disclosed and the dispute involved a bona fide difference on allowability of expenditure. Case-Laws Income Tax Fri, 09 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178309