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

CA Kumar Mukesh (Expert)
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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

Rupesh Jain

Rupesh Jain (Expert)
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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.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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17 December 2014 depends on facts of case and there is no fix % for same

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