https://www.taxtmi.com/highlights?id=57986 Undisclosed overseas deposits - We keep in mind all these peculiar facts and circumstances more particularly the fact that such religion congregations indeed involve day to day running expenses and hold that a lumpsum disallowance of 50% of the expenses in all these assessment years would meet the ends of justice (including 30% already made) with a rider that the same shall not be treated as a precedent in other case. AO is directed to allow 50% of the assessee’s expenses claimed in consequential computation as per law within three effective opportunities of hearing therefore. - AT en-us Sat, 15 May 2021 15:10:42 +0530 Sat, 15 May 2021 15:10:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=57986 Undisclosed overseas deposits - We keep in mind all these peculiar facts and circumstances more particularly the fact that such religion congregations indeed involve day to day running expenses and hold that a lumpsum disallowance of 50% of the expenses in all these assessment years would meet the ends of justice (including 30% already made) with a rider that the same shall not be treated as a precedent in other case. AO is directed to allow 50% of the assessee’s expenses claimed in consequential computation as per law within three effective opportunities of hearing therefore. - AT Highlights Income Tax Sat, 15 May 2021 15:10:42 +0530 https://www.taxtmi.com/highlights?id=57986