Assessee fails to furnish supporting bills and vouchers to prove the genuineness of claim of various expenses

Last updated: 22 September 2021
Quick Summary
The Income Tax Appellate Tribunal has upheld the disallowance of expenses totalling £1,51,33,359 for Magnanimous Infrastructure Pvt. Ltd. The assessee failed to provide supporting bills and vouchers for various expenses despite multiple notices during the scrutiny assessment. The Assessing Officer noted significant discrepancies in expense claims compared to previous years and declared revenue, leading to the disallowance.

Court :
ITAT Ahmedabad

Brief :
This assessee’s appeal for A.Y. 2015-16, arises from order of the CIT(A)-2, Ahmedabad dated 22-10-2018

Citation :
ITA No. 53/Ahd/2019

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