https://www.taxtmi.com/caselaws?id=417322 The Tribunal upheld the AO's disallowance of Capital Expenditure deduction and depreciation on assets, finding lack of evidence for genuineness. Cross objections by the Assessee were dismissed. The Tribunal also affirmed the AO's findings on the genuineness of expenditure and legality of the survey. The CIT(A) was faulted for admitting an appeal without tax payment, and the penalty under Section 271(1)(c) was reinstated. The Tribunal allowed Revenue's appeals partially, restoring disallowances and penalties, and dismissed Assessee's cross objections. en-us Wed, 05 Jan 2022 00:00:00 +0530 Wed, 19 Jan 2022 11:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417322 The Tribunal upheld the AO's disallowance of Capital Expenditure deduction and depreciation on assets, finding lack of evidence for genuineness. Cross objections by the Assessee were dismissed. The Tribunal also affirmed the AO's findings on the genuineness of expenditure and legality of the survey. The CIT(A) was faulted for admitting an appeal without tax payment, and the penalty under Section 271(1)(c) was reinstated. The Tribunal allowed Revenue's appeals partially, restoring disallowances and penalties, and dismissed Assessee's cross objections. Case-Laws Income Tax Wed, 05 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417322