https://www.taxtmi.com/highlights?id=58446 Disallowance of project expenses - Addition on the ground as no project-wise accounting was available and no work-in-progress was reported - As the assessee is engaged in the business of consultancy services definitely there can be some overlap of the expenses between two years. However that does not give any rise to the AO to disallow the expenditure @10% and treat it as work in progress. - AT en-us Mon, 21 Jun 2021 12:58:14 +0530 Mon, 21 Jun 2021 12:58:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=58446 Disallowance of project expenses - Addition on the ground as no project-wise accounting was available and no work-in-progress was reported - As the assessee is engaged in the business of consultancy services definitely there can be some overlap of the expenses between two years. However that does not give any rise to the AO to disallow the expenditure @10% and treat it as work in progress. - AT Highlights Income Tax Mon, 21 Jun 2021 12:58:14 +0530 https://www.taxtmi.com/highlights?id=58446