https://www.taxtmi.com/caselaws?id=462356 ITAT Agra reduced adhoc disallowance of expenses from 7.5% to 5% after considering assessee's historical profit rate of 8%, rejecting standardized profit rates for similar activities. Regarding TDS disallowance under section 40(a)(ia), tribunal allowed Rs. 7,42,600 payment as individual amounts stayed below Rs. 1,20,000 threshold, supported by tax audit report confirming no TDS liability. However, confirmed disallowance of Rs. 2,10,400 water tax rent payment where assessee admitted non-compliance with TDS provisions. en-us Wed, 24 Apr 2024 00:00:00 +0530 Sat, 14 Jun 2025 18:30:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462356 ITAT Agra reduced adhoc disallowance of expenses from 7.5% to 5% after considering assessee's historical profit rate of 8%, rejecting standardized profit rates for similar activities. Regarding TDS disallowance under section 40(a)(ia), tribunal allowed Rs. 7,42,600 payment as individual amounts stayed below Rs. 1,20,000 threshold, supported by tax audit report confirming no TDS liability. However, confirmed disallowance of Rs. 2,10,400 water tax rent payment where assessee admitted non-compliance with TDS provisions. Case-Laws Income Tax Wed, 24 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462356