https://www.taxtmi.com/caselaws?id=415938 The Tribunal overturned the decision to disallow 50% of consultancy charges on an adhoc basis for the assessment year 2006-07. Despite acknowledging the expenses were for business purposes, the lower authorities upheld the disallowance. The Tribunal found no justification for the estimated disallowance, noting the assessee provided comprehensive documentation supporting the genuineness of the charges. As the books of accounts were not rejected and no defects were identified in the evidence, the Tribunal directed the deletion of the disallowance, ruling in favor of the assessee. en-us Tue, 30 Nov 2021 00:00:00 +0530 Fri, 17 Dec 2021 08:53:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415938 The Tribunal overturned the decision to disallow 50% of consultancy charges on an adhoc basis for the assessment year 2006-07. Despite acknowledging the expenses were for business purposes, the lower authorities upheld the disallowance. The Tribunal found no justification for the estimated disallowance, noting the assessee provided comprehensive documentation supporting the genuineness of the charges. As the books of accounts were not rejected and no defects were identified in the evidence, the Tribunal directed the deletion of the disallowance, ruling in favor of the assessee. Case-Laws Income Tax Tue, 30 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415938