Credit Card Expense Disallowance Reviewed: Expenses Deemed Business-Related, No Further Action Needed, Says CIT (Appeals).

Credit Card Expense Disallowance Reviewed: Expenses Deemed Business-Related, No Further Action Needed, Says CIT (Appeals). https://www.taxtmi.com/highlights?id=52962 Disallowance being credit card expenses - the impugned expense is only 0.07% of the total turnover. Thus, ultimately, the impugned expenses have been found to be incurred wholly and exclusively for the business of the assessee by the ld.CIT(A), which finding according to us is without any ambiguity and needs no interference. en-us Tue, 14 Apr 2020 13:55:21 +0530 Tue, 14 Apr 2020 13:55:21 +0530 TaxTMI RSS Generator Credit Card Expense Disallowance Reviewed: Expenses Deemed Business-Related, No Further Action Needed, Says CIT (Appeals). https://www.taxtmi.com/highlights?id=52962 Disallowance being credit card expenses - the impugned expense is only 0.07% of the total turnover. Thus, ultimately, the impugned expenses have been found to be incurred wholly and exclusively for the business of the assessee by the ld.CIT(A), which finding according to us is without any ambiguity and needs no interference. Highlights Income Tax Tue, 14 Apr 2020 13:55:21 +0530 https://www.taxtmi.com/highlights?id=52962