https://www.taxtmi.com/caselaws?id=404302 The ITAT Delhi ruled in favor of the assessee, overturning the disallowance of expenses totaling Rs. 7,52,062 made by the AO and confirmed by the CIT(A) for the assessment year 2014-15. The Tribunal found merit in the appellant's arguments, noting the consistency in maintaining accounts, the reasonableness of expenses compared to revenue receipts, and the lack of prior disallowances. Emphasizing past practices and proportionality in expenses, the Tribunal directed the AO to delete the addition, highlighting the importance of considering historical practices in assessing expenses. en-us Thu, 18 Feb 2021 00:00:00 +0530 Fri, 19 Feb 2021 21:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404302 The ITAT Delhi ruled in favor of the assessee, overturning the disallowance of expenses totaling Rs. 7,52,062 made by the AO and confirmed by the CIT(A) for the assessment year 2014-15. The Tribunal found merit in the appellant's arguments, noting the consistency in maintaining accounts, the reasonableness of expenses compared to revenue receipts, and the lack of prior disallowances. Emphasizing past practices and proportionality in expenses, the Tribunal directed the AO to delete the addition, highlighting the importance of considering historical practices in assessing expenses. Case-Laws Income Tax Thu, 18 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404302