Court Rules No Justification for Addition Due to Alleged Inflated Expenses u/s 40A(3) of Income Tax Act.

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....Addition on on account of alleged inflated expenses - It is not the case where the assessee has booked bogus expenditure to a non-existent entity. Therefore, keeping in view the object of the provisions of section 40A(3) of the Act and intention of the legislation, no addition can be made - AT....