Can someone please explain regarding notice received under Section 143(2) of the Income Tax Act scouting clarification regarding Business Expenses.
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Clarification regarding Business Expense
Replies (2)
1. Notice u/s 143(2) will require the assessee to produce proper evidence in person or through a representative.
2. In your case, the IT department wanted to know whether expenses incurred by the assessee are genuine and are related to business. Gather all the supporting bills in relation to such business expenses and authenticate how such expenses are related to your current business.
Please correct me if the above solution has an alternative view.
You have to furnish supporting documents for such expenses which are queried by AO . in short you have to convince AO why such expenses can not be disallowed.
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