https://www.taxtmi.com/caselaws?id=414007 The High Court upheld the Tribunal's decision to disallow extraction/re-screening expenses claimed by the appellant, engaged in trading Iron Ore, during the Assessment Year 2009-10. The Court found that the appellant failed to provide sufficient evidence to justify the significant increase in expenses compared to previous years, confirming the Assessing Officer's disallowance. The judgment emphasized the necessity of substantial evidence to support expense claims, ultimately ruling in favor of the Revenue and dismissing the appellant's appeal. en-us Wed, 22 Sep 2021 00:00:00 +0530 Tue, 22 Feb 2022 17:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414007 The High Court upheld the Tribunal's decision to disallow extraction/re-screening expenses claimed by the appellant, engaged in trading Iron Ore, during the Assessment Year 2009-10. The Court found that the appellant failed to provide sufficient evidence to justify the significant increase in expenses compared to previous years, confirming the Assessing Officer's disallowance. The judgment emphasized the necessity of substantial evidence to support expense claims, ultimately ruling in favor of the Revenue and dismissing the appellant's appeal. Case-Laws Income Tax Wed, 22 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414007