2015 (12) TMI 1768

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... The assessee is in appeal before us against the order of the ld.CIT(A) darted 19.3.2012 passed for the Asstt.Year 2004-05. 2. The assessee has taken three grounds of appeal, but its grievance revolves around a single issue, whereby, it has pleaded that the ld.CIT(A) has erred in law and on facts in confirming the disallowance of Rs. 22,55,435/- which is 50% of the indirect expenses incurred in ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....s. 73,49,750/-. Therefore, he directed the assessee to submit supporting details with regard to these expenditures. Since the assessee failed to submit the details, he made disallowance at 50% of the expenditures and made addition of Rs. 36,74,875/-. 4. On appeal, the ld.CIT(A) has restricted this disallowance to Rs. 22,55,435/-. This is the 50% of the expenditure which were incurred in cash. 5.....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....rly situated assessee. It is also pertinent to mention that judgment is a faculty to decide matter with wisdom, truly and legally. Judgment does not depend upon the arbitrary, caprice of an adjudicator, but on settled and invariably principles of justice. Thus, in a best judgment, even if, there is an element of guess work, it should not be a wild one, but shall have reasonable nexus to the availa....