https://www.taxtmi.com/caselaws?id=444620 The Tribunal allowed the appeals of the assessee, determining that the disallowance of expenses under Section 40A(2)(b) was unjustified due to the lack of evidence or comparable figures presented by the AO. Additionally, the penalty imposed under Section 271G was deleted, as the AO failed to specify the documents required, which is necessary for imposing such a penalty. The Tribunal's decision relied on relevant judgments from the Delhi HC and SC, emphasizing proper procedural requirements and the absence of unreasonable or excessive expenses. en-us Mon, 16 Oct 2023 00:00:00 +0530 Tue, 02 Jan 2024 11:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444620 The Tribunal allowed the appeals of the assessee, determining that the disallowance of expenses under Section 40A(2)(b) was unjustified due to the lack of evidence or comparable figures presented by the AO. Additionally, the penalty imposed under Section 271G was deleted, as the AO failed to specify the documents required, which is necessary for imposing such a penalty. The Tribunal's decision relied on relevant judgments from the Delhi HC and SC, emphasizing proper procedural requirements and the absence of unreasonable or excessive expenses. Case-Laws Income Tax Mon, 16 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444620