[aaykarbhavan] ITAT reduces disallowance as claim was reasonable even if certain vouchers were self-made and not verifiable

ITAT reduces disallowance as claim was reasonable even if certain vouchers were self-made and not verifiable

April 18, 2015[2015] 56 taxmann.com 77 (Mumbai - Trib.)

IT: Deduction on account of 'raw material discarded' could not be allowed to assessee where it could not furnish any relevant detail to satisfaction of Assessing Officer

IT: Where several vouchers presented by assessee for claiming miscellaneous expenses were self made and not independently verifiable, disallowance was to be restricted to 50 per cent

IT: Where Assessing Officer had no material on record for quantification of probable cash expenditure which would be hit by mischief of section 40A(3), disallowance under section 40A(3) need not be made

IT: Administrative and selling expenses should be allowed when assessee had produced all relevant details along with books of account

 

Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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