https://www.taxtmi.com/caselaws?id=377603 The Tribunal allowed the appeal, stating that the lower authorities lacked jurisdiction in making the assessment. The trading addition of &8377; 7,76,198 was deemed unjustified as the trading results were comparable to previous years. Additionally, the disallowance of expenses amounting to &8377; 45,088 was overturned, citing that no disallowance can be made for personal use by a corporate entity. The Tribunal directed the Assessing Officer to delete the ad hoc disallowance of expenses. en-us Tue, 26 Mar 2019 00:00:00 +0530 Mon, 01 Apr 2019 09:35:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377603 The Tribunal allowed the appeal, stating that the lower authorities lacked jurisdiction in making the assessment. The trading addition of &8377; 7,76,198 was deemed unjustified as the trading results were comparable to previous years. Additionally, the disallowance of expenses amounting to &8377; 45,088 was overturned, citing that no disallowance can be made for personal use by a corporate entity. The Tribunal directed the Assessing Officer to delete the ad hoc disallowance of expenses. Case-Laws Income Tax Tue, 26 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377603