Assessing Officer Shouldn't Judge Business Expenses; Decision Lies with Business Owner on Necessary Expenditures.

Assessing Officer Shouldn't Judge Business Expenses; Decision Lies with Business Owner on Necessary Expenditures. https://www.taxtmi.com/highlights?id=66414 Depreciation on software - It is trite that the AO cannot sit in the arm chair of a businessman and decide what expenditure is expedient. The genuineness of the vouchers is not in dispute. It is for an assessee to decide from time to time the expenditure that he finds it expedient to make in order to promote his business. - HC en-us Mon, 07 Nov 2022 09:26:24 +0530 Mon, 07 Nov 2022 09:26:24 +0530 TaxTMI RSS Generator Assessing Officer Shouldn't Judge Business Expenses; Decision Lies with Business Owner on Necessary Expenditures. https://www.taxtmi.com/highlights?id=66414 Depreciation on software - It is trite that the AO cannot sit in the arm chair of a businessman and decide what expenditure is expedient. The genuineness of the vouchers is not in dispute. It is for an assessee to decide from time to time the expenditure that he finds it expedient to make in order to promote his business. - HC Highlights Income Tax Mon, 07 Nov 2022 09:26:24 +0530 https://www.taxtmi.com/highlights?id=66414