https://www.taxtmi.com/caselaws?id=794455 Business expenditure claimed under section 37(1) could not be disallowed where the record showed no specific defect in the books, no identified bogus or inflated item, and no finding of any personal or non-business element in the expenses. Administrative and operational outlays such as salary, rent, travelling, conveyance, telephone and office es were accepted as business-related in substance, and a broad presumption of minimal activity was insufficient to justify rejection. On that basis, the disallowance was deleted. Interest under sections 234B and 234C was treated as consequential and required no separate adjudication. en-us Wed, 03 Jun 2026 00:00:00 +0530 Mon, 06 Jul 2026 08:26:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794455 Business expenditure claimed under section 37(1) could not be disallowed where the record showed no specific defect in the books, no identified bogus or inflated item, and no finding of any personal or non-business element in the expenses. Administrative and operational outlays such as salary, rent, travelling, conveyance, telephone and office es were accepted as business-related in substance, and a broad presumption of minimal activity was insufficient to justify rejection. On that basis, the disallowance was deleted. Interest under sections 234B and 234C was treated as consequential and required no separate adjudication. Case-Laws Income Tax Wed, 03 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794455