https://www.taxtmi.com/caselaws?id=459916 ITAT Delhi allowed the assessee's appeal on two grounds. First, regarding disallowance of business expenses, the tribunal held that since lower authorities had assessed business income reported by the assessee, they cannot deny corresponding business expenditure deductions. The assessee was entitled to claim business expenses as deductions once business activity was accepted. Second, the tribunal found that approval granted under section 153D by Additional CIT was mechanical and without proper application of mind, making it invalid as it reduced the approval process to an empty ritual. en-us Mon, 30 Sep 2024 00:00:00 +0530 Thu, 02 Jan 2025 23:38:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459916 ITAT Delhi allowed the assessee's appeal on two grounds. First, regarding disallowance of business expenses, the tribunal held that since lower authorities had assessed business income reported by the assessee, they cannot deny corresponding business expenditure deductions. The assessee was entitled to claim business expenses as deductions once business activity was accepted. Second, the tribunal found that approval granted under section 153D by Additional CIT was mechanical and without proper application of mind, making it invalid as it reduced the approval process to an empty ritual. Case-Laws Income Tax Mon, 30 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459916