https://www.taxtmi.com/caselaws?id=330212 Estimated disallowances of depreciation, raw material consumption, and personnel and production expenses were criticised where the record did not show any defect in the claims or supporting material for the percentage adopted. Depreciation was remitted for verification of fixed-asset additions, written down value, and user evidence from past records, bills, and vouchers. The ad hoc disallowance of operating expenses was deleted because suspicion alone could not justify curtailment of expenditure linked to the business. Brought forward losses were also sent back for re-determination, while the additional claim under section 40(a)(ia) was allowed because the tax deducted at source was remitted in the relevant year. en-us Tue, 05 Jul 2016 00:00:00 +0530 Wed, 20 Jul 2016 13:29:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330212 Estimated disallowances of depreciation, raw material consumption, and personnel and production expenses were criticised where the record did not show any defect in the claims or supporting material for the percentage adopted. Depreciation was remitted for verification of fixed-asset additions, written down value, and user evidence from past records, bills, and vouchers. The ad hoc disallowance of operating expenses was deleted because suspicion alone could not justify curtailment of expenditure linked to the business. Brought forward losses were also sent back for re-determination, while the additional claim under section 40(a)(ia) was allowed because the tax deducted at source was remitted in the relevant year. Case-Laws Income Tax Tue, 05 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330212