https://www.taxtmi.com/caselaws?id=765540 The Court reduced the disallowance for unverifiable purchases from Rs. 3,00,000/- to Rs. 1,00,000/- due to insufficient evidence. The disallowance for direct expenses was similarly reduced, as it lacked specific discrepancies. Most business expenses were accepted as legitimate, with minor adjustments for personal use. The Court instructed the Assessing Officer (AO) to verify and correct any mismatches regarding the Tax Deducted at Source (TDS) and prepaid tax credits, emphasizing that disallowances must be based on specific evidence rather than vague observations. en-us Fri, 31 Jan 2025 00:00:00 +0530 Mon, 03 Feb 2025 08:13:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765540 The Court reduced the disallowance for unverifiable purchases from Rs. 3,00,000/- to Rs. 1,00,000/- due to insufficient evidence. The disallowance for direct expenses was similarly reduced, as it lacked specific discrepancies. Most business expenses were accepted as legitimate, with minor adjustments for personal use. The Court instructed the Assessing Officer (AO) to verify and correct any mismatches regarding the Tax Deducted at Source (TDS) and prepaid tax credits, emphasizing that disallowances must be based on specific evidence rather than vague observations. Case-Laws Income Tax Fri, 31 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765540