https://www.taxtmi.com/caselaws?id=403011 The Tribunal partially allowed the appeal challenging ad hoc expense disallowances by the Assessing Officer under sections 147/143(3) of the IT Act for the assessment year 2012-13. The Tribunal reduced the disallowance from 20% to 5%, citing lack of proper documentation but deeming the initial percentage excessive and arbitrary. The decision underscores the importance of substantiating expenses with appropriate documentation and ensures a fair and reasonable disallowance percentage. en-us Fri, 18 Dec 2020 00:00:00 +0530 Mon, 18 Jan 2021 13:11:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403011 The Tribunal partially allowed the appeal challenging ad hoc expense disallowances by the Assessing Officer under sections 147/143(3) of the IT Act for the assessment year 2012-13. The Tribunal reduced the disallowance from 20% to 5%, citing lack of proper documentation but deeming the initial percentage excessive and arbitrary. The decision underscores the importance of substantiating expenses with appropriate documentation and ensures a fair and reasonable disallowance percentage. Case-Laws Income Tax Fri, 18 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403011