https://www.taxtmi.com/caselaws?id=797162 Business expenditure remains deductible where profit and loss accounts, purchase records, VAT returns and sales records establish that the underlying receipts and costs arose from business transactions. Incorrectly reporting those receipts and expenses under income from other sources in the return constitutes a return-preparation error and does not alter their true business character. The claimed expenditure was therefore allowable as business expenditure, and the disallowance was deleted. en-us Tue, 11 Aug 2026 00:00:00 +0530 Tue, 18 Aug 2026 08:35:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797162 Business expenditure remains deductible where profit and loss accounts, purchase records, VAT returns and sales records establish that the underlying receipts and costs arose from business transactions. Incorrectly reporting those receipts and expenses under income from other sources in the return constitutes a return-preparation error and does not alter their true business character. The claimed expenditure was therefore allowable as business expenditure, and the disallowance was deleted. Case-Laws Income Tax Tue, 11 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797162