https://www.taxtmi.com/caselaws?id=414569 The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s order that deleted the proportionate disallowance of expenses. The Tribunal found that the AO's disallowance was based on an incorrect understanding of the expenses and the additional income admitted during the survey. It concluded that the expenses were legitimate business expenses, and there was no evidence of them being inflated or non-genuine. The appeal was dismissed in favor of the assessee. en-us Tue, 09 Nov 2021 00:00:00 +0530 Thu, 11 Nov 2021 08:44:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414569 The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s order that deleted the proportionate disallowance of expenses. The Tribunal found that the AO's disallowance was based on an incorrect understanding of the expenses and the additional income admitted during the survey. It concluded that the expenses were legitimate business expenses, and there was no evidence of them being inflated or non-genuine. The appeal was dismissed in favor of the assessee. Case-Laws Income Tax Tue, 09 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414569