https://www.taxtmi.com/caselaws?id=274515 The Appellate Tribunal ITAT Ahmedabad partially allowed the appeal of the assessee against the disallowance of indirect expenses incurred in cash. The Tribunal reduced the disallowance from 50% to 20% of the expenses, resulting in a disallowance of &8377; 14,69,950. The judgment emphasized the importance of fair estimation in best judgment assessments and highlighted that the disallowance should be reasonably connected to the available material and circumstances of each assessee. en-us Thu, 10 Dec 2015 00:00:00 +0530 Sun, 19 Aug 2018 11:45:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=274515 The Appellate Tribunal ITAT Ahmedabad partially allowed the appeal of the assessee against the disallowance of indirect expenses incurred in cash. The Tribunal reduced the disallowance from 50% to 20% of the expenses, resulting in a disallowance of &8377; 14,69,950. The judgment emphasized the importance of fair estimation in best judgment assessments and highlighted that the disallowance should be reasonably connected to the available material and circumstances of each assessee. Case-Laws Income Tax Thu, 10 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=274515