https://www.taxtmi.com/caselaws?id=288336 The Appellate Tribunal ITAT Mumbai ruled in favor of the assessee in a case involving the disallowance of expenses and credits. The Tribunal directed the Assessing Officer to allow the deduction of IFRS audit fees and service tax credit write-off, as they were found to be genuine business expenditures. Additionally, the Tribunal partially allowed the appeal on the adhoc disallowance of travelling and conveyance expenses, reducing the disallowance percentage to 10% due to lack of fully verifiable evidence. The general ground raised by the revenue did not require specific adjudication. en-us Tue, 24 Dec 2019 00:00:00 +0530 Tue, 02 Jun 2020 01:37:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288336 The Appellate Tribunal ITAT Mumbai ruled in favor of the assessee in a case involving the disallowance of expenses and credits. The Tribunal directed the Assessing Officer to allow the deduction of IFRS audit fees and service tax credit write-off, as they were found to be genuine business expenditures. Additionally, the Tribunal partially allowed the appeal on the adhoc disallowance of travelling and conveyance expenses, reducing the disallowance percentage to 10% due to lack of fully verifiable evidence. The general ground raised by the revenue did not require specific adjudication. Case-Laws Income Tax Tue, 24 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288336