Disallowed Expenses: Assessee Fails to Provide Proof

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

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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1 Year PLAN

1999

(Excl. of GST ₹359)

2 Years PLAN

3499

(Excl. of GST ₹629)

BEST VALUE

3 Years PLAN

4999

(Excl. of GST ₹899)

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Attached File : 1442821_4449_1631772333_ita_no_53_of_2019_magnanimous_infrastructure_pvt_ltd.pdf

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Judgement posted by

Poojitha Raam Vinay

Practice

I simplify complex income tax, TDS, banking, and investment updates into practical insights for taxpayers, salaried professionals, pensioners, and senior citizens. I regularly write on ITR filing, tax compliance, savings schemes, and the latest financial rule changes in India.

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