https://www.taxtmi.com/caselaws?id=332800 The ITAT ruled in favor of the assessee, allowing the legal expenses incurred to defend against accusations related to non-payment of fixed deposits as professional expenditure fully allowable under section 37(1) of the Income Tax Act. The ITAT directed the Assessing Officer to permit the legal expenses of &8377;40,72,750. Regarding the travelling and hotel expenses of &8377;14,93,188, initially declined by the CIT(A), the ITAT remanded the matter for reconsideration, instructing a fresh review by the Assessing Officer to provide a fair opportunity for the assessee to present additional evidence. en-us Thu, 16 Jun 2016 00:00:00 +0530 Tue, 27 Sep 2016 12:00:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=332800 The ITAT ruled in favor of the assessee, allowing the legal expenses incurred to defend against accusations related to non-payment of fixed deposits as professional expenditure fully allowable under section 37(1) of the Income Tax Act. The ITAT directed the Assessing Officer to permit the legal expenses of &8377;40,72,750. Regarding the travelling and hotel expenses of &8377;14,93,188, initially declined by the CIT(A), the ITAT remanded the matter for reconsideration, instructing a fresh review by the Assessing Officer to provide a fair opportunity for the assessee to present additional evidence. Case-Laws Income Tax Thu, 16 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=332800