Challenge to Section 37(1) Expense Disallowance: Insufficient Justification by Assessing Officer on Business Expense Relevance.

Challenge to Section 37(1) Expense Disallowance: Insufficient Justification by Assessing Officer on Business Expense Relevance. https://www.taxtmi.com/highlights?id=59251 Disallowance of expenses made u/s.37(1) - disallowance of expenditure on adhoc basis made by the ld. AO by giving a categorical finding that the ld. AO had not even whispered in the assessment order as to how a particular expenditure of the assessee is excessive and not incurred for the purpose of business u/s.37(1) - the incurrence of business expenditure whether it is commensurate with the business receipts earned thereof is of absolutely no relevance to decide the allowability of business expenditure. - AT en-us Tue, 17 Aug 2021 23:14:30 +0530 Tue, 17 Aug 2021 23:14:30 +0530 TaxTMI RSS Generator Challenge to Section 37(1) Expense Disallowance: Insufficient Justification by Assessing Officer on Business Expense Relevance. https://www.taxtmi.com/highlights?id=59251 Disallowance of expenses made u/s.37(1) - disallowance of expenditure on adhoc basis made by the ld. AO by giving a categorical finding that the ld. AO had not even whispered in the assessment order as to how a particular expenditure of the assessee is excessive and not incurred for the purpose of business u/s.37(1) - the incurrence of business expenditure whether it is commensurate with the business receipts earned thereof is of absolutely no relevance to decide the allowability of business expenditure. - AT Highlights Income Tax Tue, 17 Aug 2021 23:14:30 +0530 https://www.taxtmi.com/highlights?id=59251