https://www.taxtmi.com/caselaws?id=428076 The Tribunal allowed the assessee's appeal and dismissed the Revenue's appeal. The disallowance of Rs. 1,06,50,000/- under Section 40A(3) was deleted as the transaction was genuine and made due to business expediency. The deletion of disallowance of Rs. 55,42,561/- representing bad debts provision was upheld as the bad debt had been written off in the books of account. Additionally, the disallowance of Rs. 1,09,84,190/- under 'property maintenance' and 'miscellaneous expenses' was deleted as the AO lacked valid reasoning and the expenses were adequately documented. en-us Mon, 29 Aug 2022 00:00:00 +0530 Fri, 23 Sep 2022 08:25:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428076 The Tribunal allowed the assessee's appeal and dismissed the Revenue's appeal. The disallowance of Rs. 1,06,50,000/- under Section 40A(3) was deleted as the transaction was genuine and made due to business expediency. The deletion of disallowance of Rs. 55,42,561/- representing bad debts provision was upheld as the bad debt had been written off in the books of account. Additionally, the disallowance of Rs. 1,09,84,190/- under 'property maintenance' and 'miscellaneous expenses' was deleted as the AO lacked valid reasoning and the expenses were adequately documented. Case-Laws Income Tax Mon, 29 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428076