https://www.taxtmi.com/caselaws?id=787631 Going-concern presumption applied: absent cogent evidence of business cessation, salary payments, ordinary operating expenses and audit fees claimed by the taxpayer were held allowable; the Assessing Officer's recharacterisation of salaries as personal expenses, an ad-hoc 50% disallowance of general expenses, and disallowance of audit fees for alleged inconsistency with cash-basis accounting were rejected for lack of material and absence of application of mind, with comparative-year acceptance and unchanged accounting method supporting the deductions. Effect: impugned additions and disallowances deleted and the taxpayer's appeal allowed. en-us Fri, 06 Mar 2026 00:00:00 +0530 Tue, 10 Mar 2026 08:51:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=787631 Going-concern presumption applied: absent cogent evidence of business cessation, salary payments, ordinary operating expenses and audit fees claimed by the taxpayer were held allowable; the Assessing Officer's recharacterisation of salaries as personal expenses, an ad-hoc 50% disallowance of general expenses, and disallowance of audit fees for alleged inconsistency with cash-basis accounting were rejected for lack of material and absence of application of mind, with comparative-year acceptance and unchanged accounting method supporting the deductions. Effect: impugned additions and disallowances deleted and the taxpayer's appeal allowed. Case-Laws Income Tax Fri, 06 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=787631