Assessee's Car, Travel, and Phone Expenses Deemed Legitimate; Additions Deleted Due to Lack of Evidence.

Assessee's Car, Travel, and Phone Expenses Deemed Legitimate; Additions Deleted Due to Lack of Evidence. https://www.taxtmi.com/highlights?id=55680 Adhoc Addition on account of personal use of car, on account of tour and travelling expenses and on account of telephone expenses - When undisputedly assessee has claimed the expenses on the basis of its audited financials which have not been disputed by the AO, the ad hoc addition on the basis of surmises is bad in law. Moreover, when it is not case of the AO that these expenses have not been made wholly and exclusively for the purpose of business by the assessee there is no ground to disallow the same. Ld. CIT(A) has rightly deleted the addition - AT en-us Sat, 28 Nov 2020 10:02:39 +0530 Sat, 28 Nov 2020 10:02:39 +0530 TaxTMI RSS Generator Assessee's Car, Travel, and Phone Expenses Deemed Legitimate; Additions Deleted Due to Lack of Evidence. https://www.taxtmi.com/highlights?id=55680 Adhoc Addition on account of personal use of car, on account of tour and travelling expenses and on account of telephone expenses - When undisputedly assessee has claimed the expenses on the basis of its audited financials which have not been disputed by the AO, the ad hoc addition on the basis of surmises is bad in law. Moreover, when it is not case of the AO that these expenses have not been made wholly and exclusively for the purpose of business by the assessee there is no ground to disallow the same. Ld. CIT(A) has rightly deleted the addition - AT Highlights Income Tax Sat, 28 Nov 2020 10:02:39 +0530 https://www.taxtmi.com/highlights?id=55680