https://www.taxtmi.com/highlights?id=56628 Ad-hoc disallowance @ 7.5% on trading expenses - failure to submit the documents - As it is highly unlikely that the assessee would intentionally or deliberately not produce the documents before the revenue authorities, as this would cause immense harm to his own interests. Ultimate aim of the assessment by the revenue authorities is to collect correct taxes due from the assessee - Matter remanded back - AT en-us Mon, 08 Feb 2021 14:39:48 +0530 Mon, 08 Feb 2021 14:39:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=56628 Ad-hoc disallowance @ 7.5% on trading expenses - failure to submit the documents - As it is highly unlikely that the assessee would intentionally or deliberately not produce the documents before the revenue authorities, as this would cause immense harm to his own interests. Ultimate aim of the assessment by the revenue authorities is to collect correct taxes due from the assessee - Matter remanded back - AT Highlights Income Tax Mon, 08 Feb 2021 14:39:48 +0530 https://www.taxtmi.com/highlights?id=56628