https://www.taxtmi.com/caselaws?id=418940 The Tribunal allowed the appeal, overturning the disallowance of expenses by the Assessing Officer and the decision of the CIT(Appeals) due to insufficient reasoning and lack of concrete evidence to justify the disallowances. The Tribunal found that the decline in profit ratio did not prove the assessee inflated expenses, rejected the rejection of detailed statements by the CIT(Appeals) without proper justification, and emphasized the necessity of specific instances to warrant disallowance for lack of proper documentation of expenses. en-us Mon, 21 Feb 2022 00:00:00 +0530 Sun, 27 Feb 2022 21:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418940 The Tribunal allowed the appeal, overturning the disallowance of expenses by the Assessing Officer and the decision of the CIT(Appeals) due to insufficient reasoning and lack of concrete evidence to justify the disallowances. The Tribunal found that the decline in profit ratio did not prove the assessee inflated expenses, rejected the rejection of detailed statements by the CIT(Appeals) without proper justification, and emphasized the necessity of specific instances to warrant disallowance for lack of proper documentation of expenses. Case-Laws Income Tax Mon, 21 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418940