2016 (2) TMI 1113

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....uman Ratnam ORDER The aforesaid appeals have been filed by the assessee against separate impugned orders of even dated 18.01.2013, passed by CIT(A)-36, Mumbai, for the quantum of assessment passed under section 143(3) r.w.s. 153C for the assessment year 2005-06, 2006-07 and 2007-08. Since issue arising in all the appeals are common arising out of identical set of facts, therefore, same were hear....

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....e could not produce all the vouchers. Accordingly, he disallowed the entire expenses. The Ld. CIT(A) directed the AO to allow 20% of the above expenses and relief of Rs. 55,672/- was granted and balance expenses were disallowed. 3. The Ld. Counsel before us submitted that, the Tribunal in various cases have held that, if the income has been assessed after taking profit of 0.15% of the deposits, t....

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....td., the Tribunal had held the expenses to the extent of 50% should be allowed. This decision again is based on various other decisions. Accordingly, consistent with the same we hold that the disallowance of expenditure should be restricted to 50% and balance 50% of expenditure shall be allowed. Accordingly, we hold that a disallowance of expenditure should be restricted to 50% and balance 50% of ....