Disallowance
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 December 2014
Is there any case law, where assessee claims 20% disallowances on depreciation and expenses, where assessing officer said 50% for disallowance?
CA Kumar Mukesh
(Expert)
17 December 2014
Yes Assessee Officer can disallow the part of the expenses which are in the nature of personal expenditure under section 38(2) of Income Tax Act, 1961.
The % of dis allowance can be varied on case to case basis
The % of dis allowance can be varied on case to case basis
Rupesh Jain
(Expert)
17 December 2014
IT IS on the basis of
AO his calculation of exp of personal nature. there is no standard of % of exp. disallowance.
AO his calculation of exp of personal nature. there is no standard of % of exp. disallowance.
17 December 2014
depends on facts of case and there is no fix % for same
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