https://www.taxtmi.com/caselaws?id=763428 The ITAT Mumbai allowed the assessee's appeal regarding consultancy and legal fees, directing the AO to delete the addition as the assessee provided adequate documentation including PAN and Aadhar cards of consultants, and their non-filing of returns due to income below taxable limits did not invalidate genuine business expenditure. For power and fuel expenses of Rs. 10,42,713, the tribunal deleted the addition since bills in other individuals' names were reasonably explained. Regarding balance expenditure, the tribunal directed the AO to apply the assessee's historical net profit rate of 3.7% instead of the claimed 4.37% after proper verification. en-us Tue, 17 Dec 2024 00:00:00 +0530 Thu, 19 Dec 2024 08:48:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763428 The ITAT Mumbai allowed the assessee's appeal regarding consultancy and legal fees, directing the AO to delete the addition as the assessee provided adequate documentation including PAN and Aadhar cards of consultants, and their non-filing of returns due to income below taxable limits did not invalidate genuine business expenditure. For power and fuel expenses of Rs. 10,42,713, the tribunal deleted the addition since bills in other individuals' names were reasonably explained. Regarding balance expenditure, the tribunal directed the AO to apply the assessee's historical net profit rate of 3.7% instead of the claimed 4.37% after proper verification. Case-Laws Income Tax Tue, 17 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763428