https://www.taxtmi.com/caselaws?id=441651 The Tribunal allowed the appeal of the assessee in a case involving the restriction of deduction under section 36(1)(viia) of the Income Tax Act, 1961. The Tribunal held that the Assessing Officer erred in not verifying the sufficiency of provisions in the books of accounts and restricted the deduction on incorrect grounds. As the assessee had ample provision in the books, the Tribunal concluded that no disallowance was justified. Consequently, the Tribunal deleted the disallowance made by the AO and ruled in favor of the assessee. en-us Mon, 26 Jun 2023 00:00:00 +0530 Fri, 11 Aug 2023 14:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441651 The Tribunal allowed the appeal of the assessee in a case involving the restriction of deduction under section 36(1)(viia) of the Income Tax Act, 1961. The Tribunal held that the Assessing Officer erred in not verifying the sufficiency of provisions in the books of accounts and restricted the deduction on incorrect grounds. As the assessee had ample provision in the books, the Tribunal concluded that no disallowance was justified. Consequently, the Tribunal deleted the disallowance made by the AO and ruled in favor of the assessee. Case-Laws Income Tax Mon, 26 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441651