Assessing Officer's Role: Verify Legitimacy of Business Expenses u/s 37(1) Without Altering Claimed Amounts.

Assessing Officer's Role: Verify Legitimacy of Business Expenses u/s 37(1) Without Altering Claimed Amounts. https://www.taxtmi.com/highlights?id=40697 Disallowance of expenditure u/s. 37(1) - allowable busniss expenditure - AO cannot step into the shoes of assessee to re-fix the amount - There is no power to AO to reduce the claim, whereas he can examine whether the amount can be allowed or not in full. en-us Mon, 06 Aug 2018 08:01:26 +0530 Mon, 06 Aug 2018 08:01:26 +0530 TaxTMI RSS Generator Assessing Officer's Role: Verify Legitimacy of Business Expenses u/s 37(1) Without Altering Claimed Amounts. https://www.taxtmi.com/highlights?id=40697 Disallowance of expenditure u/s. 37(1) - allowable busniss expenditure - AO cannot step into the shoes of assessee to re-fix the amount - There is no power to AO to reduce the claim, whereas he can examine whether the amount can be allowed or not in full. Highlights Income Tax Mon, 06 Aug 2018 08:01:26 +0530 https://www.taxtmi.com/highlights?id=40697