https://www.taxtmi.com/caselaws?id=448292 The Tribunal allowed the appeal filed by the assessee, a partnership firm, against the order of the Ld. CIT(A)-NFAC, which upheld the Ld. AO's disallowance of certain expenses under sections 40A(3) and prior period expenses for AY 2016-17. The Tribunal found that the Ld. AO's ad-hoc disallowance of 10% of total expenses was sufficient and that further specific disallowances in the rectification order were unjustified. Consequently, the Tribunal directed the Ld. AO to delete the additional disallowances, setting aside the rectification order. en-us Wed, 10 Jan 2024 00:00:00 +0530 Tue, 16 Jan 2024 08:33:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448292 The Tribunal allowed the appeal filed by the assessee, a partnership firm, against the order of the Ld. CIT(A)-NFAC, which upheld the Ld. AO's disallowance of certain expenses under sections 40A(3) and prior period expenses for AY 2016-17. The Tribunal found that the Ld. AO's ad-hoc disallowance of 10% of total expenses was sufficient and that further specific disallowances in the rectification order were unjustified. Consequently, the Tribunal directed the Ld. AO to delete the additional disallowances, setting aside the rectification order. Case-Laws Income Tax Wed, 10 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448292