Assessee's Vehicle and Telephone Expenses Partially Disallowed Due to Lack of Business Use Evidence; 10% Disallowance Upheld.

Assessee's Vehicle and Telephone Expenses Partially Disallowed Due to Lack of Business Use Evidence; 10% Disallowance Upheld. https://www.taxtmi.com/highlights?id=54309 Disallowance on account of Vehicle and Telephone expenses - the assessee could not adduce proper evidence in support of Vehicle and Telephone expenses having been incurred wholly and exclusively for the purpose of business inasmuch as no log books for vehicle etc., were produced despite the AO’s specific requisition. We are satisfied that sustenance of disallowance at 10% of the expenses is reasonable and does not require any interference. - AT en-us Mon, 10 Aug 2020 13:49:37 +0530 Mon, 10 Aug 2020 13:49:37 +0530 TaxTMI RSS Generator Assessee's Vehicle and Telephone Expenses Partially Disallowed Due to Lack of Business Use Evidence; 10% Disallowance Upheld. https://www.taxtmi.com/highlights?id=54309 Disallowance on account of Vehicle and Telephone expenses - the assessee could not adduce proper evidence in support of Vehicle and Telephone expenses having been incurred wholly and exclusively for the purpose of business inasmuch as no log books for vehicle etc., were produced despite the AO’s specific requisition. We are satisfied that sustenance of disallowance at 10% of the expenses is reasonable and does not require any interference. - AT Highlights Income Tax Mon, 10 Aug 2020 13:49:37 +0530 https://www.taxtmi.com/highlights?id=54309