https://www.taxtmi.com/caselaws?id=777460 ITAT held the unilateral 50% disallowance of business expenses to be arbitrary and unsupported where the taxpayer reported a 33% net profit, the appellate authority conceded the expenditures were for business (granting 50% relief), books were not rejected under s.145(3), and the taxpayer furnished relevant details and evidence. On these facts, no business expenditure could be disallowed and the grounds raised by the taxpayer were allowed. en-us Wed, 27 Aug 2025 00:00:00 +0530 Fri, 29 Aug 2025 08:58:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777460 ITAT held the unilateral 50% disallowance of business expenses to be arbitrary and unsupported where the taxpayer reported a 33% net profit, the appellate authority conceded the expenditures were for business (granting 50% relief), books were not rejected under s.145(3), and the taxpayer furnished relevant details and evidence. On these facts, no business expenditure could be disallowed and the grounds raised by the taxpayer were allowed. Case-Laws Income Tax Wed, 27 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777460