https://www.taxtmi.com/highlights?id=69167 Ad-hoc disallowance at the rate of 10% on credit card expenses - Prima Facie the said disallowance is ad-hoc in nature. AO ought to have made reference to any of such expenses given in the books which could indicate that they are personal in nature. Merely making disallowance just for the sake of concluding the assessment is not a justified approach. Expenses through credit card have been claimed as general business expenditure in order to attend the business meetings. - AT en-us Tue, 11 Apr 2023 10:09:51 +0530 Tue, 11 Apr 2023 10:09:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=69167 Ad-hoc disallowance at the rate of 10% on credit card expenses - Prima Facie the said disallowance is ad-hoc in nature. AO ought to have made reference to any of such expenses given in the books which could indicate that they are personal in nature. Merely making disallowance just for the sake of concluding the assessment is not a justified approach. Expenses through credit card have been claimed as general business expenditure in order to attend the business meetings. - AT Highlights Income Tax Tue, 11 Apr 2023 10:09:51 +0530 https://www.taxtmi.com/highlights?id=69167