https://www.taxtmi.com/caselaws?id=760044 ITAT Delhi ruled in favor of the assessee regarding ad hoc disallowances and penalty proceedings. The tribunal found that CIT(A)'s enhancement for reimbursement from Oman Branch was baseless as the amount had no effect on taxable income computation due to consolidation. For ad hoc disallowances of 10% on various expenses, the matter was restored to AO for fresh adjudication since assessee had insufficient time to provide details and later submitted 80% supporting evidence. Penalty under section 271(1)(c) was deleted as it cannot be levied on estimated additions or ad hoc disallowances. en-us Wed, 25 Sep 2024 00:00:00 +0530 Tue, 15 Oct 2024 08:39:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=760044 ITAT Delhi ruled in favor of the assessee regarding ad hoc disallowances and penalty proceedings. The tribunal found that CIT(A)'s enhancement for reimbursement from Oman Branch was baseless as the amount had no effect on taxable income computation due to consolidation. For ad hoc disallowances of 10% on various expenses, the matter was restored to AO for fresh adjudication since assessee had insufficient time to provide details and later submitted 80% supporting evidence. Penalty under section 271(1)(c) was deleted as it cannot be levied on estimated additions or ad hoc disallowances. Case-Laws Income Tax Wed, 25 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=760044