https://www.taxtmi.com/caselaws?id=416175 The Tribunal partly allowed both appeals of the assessee for the assessment years 2014-15 and 2015-16, directing the Assessing Officer to delete the disallowed expenses from the P&L Account. The judgments emphasized the importance of evidence-based findings and reasoning in tax assessments, preventing arbitrary disallowances based on assumptions. The decisions underscored that disallowances cannot be made solely on conjectures and highlighted the need for concrete evidence to support such actions. en-us Fri, 17 Dec 2021 00:00:00 +0530 Wed, 22 Dec 2021 07:51:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416175 The Tribunal partly allowed both appeals of the assessee for the assessment years 2014-15 and 2015-16, directing the Assessing Officer to delete the disallowed expenses from the P&L Account. The judgments emphasized the importance of evidence-based findings and reasoning in tax assessments, preventing arbitrary disallowances based on assumptions. The decisions underscored that disallowances cannot be made solely on conjectures and highlighted the need for concrete evidence to support such actions. Case-Laws Income Tax Fri, 17 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416175