Allowed expenses on undisclosed income recognised by AO

288 views
Guest

If an AO has calculated additional income on an assessee. Can assessee claim any related expense deductions as well on that income so found by AO?? 

Reply Share Follow
On 10 October 2021 at 13:59 Report
Replies (3)
Quick Summary
This discussion explores whether an assessee can claim related expense deductions on undisclosed income that has been recognised and added by an Assessing Officer (AO). The general consensus is that such expenses are not allowed. The thread also seeks case law or specific sections to support this viewpoint of non-allowance.

User Avatar

Chartered Accountant
24588 Points Posted on 10 October 2021
No it's not allowed
Reply
On 10 October 2021 at 15:34
User Avatar

Chartered Accountants
2015 Points Posted on 10 October 2021

No, you can't claim any futher expenses on account of any addition made of AO

Reply
On 10 October 2021 at 15:56
Guest

Do we have any case law or section to support our viewpoint of non-allowance which can be referred?

Reply
On 10 October 2021 at 19:08

Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Sec 8 company sec 12ab reg
  2. AIS Password: How to Open Your AIS PDF?
  3. Interview Questions
  4. ITR Filing Last Date 2026
  5. Tds - filing Conso File for tax year 2026-27
  6. ITR-3 Filing For AY 2026-27 - Tips
  7. Capital Gain on sale of Depreciated Factory Gala
  8. Interesting Observation from a Recent Income Tax S
  9. ITR 3 Utility Not Taking Marginal Relief on Net To
  10. MV Electrosystems IPO Allotment Date, Status Check

More recent discussions | Post

Related Topics :

Loading
Follow