Smartowner Services vs. Income Tax Officer: Expense Disallowance

Quick Summary

The Income Tax Appellate Tribunal (ITAT) in Bangalore heard an appeal from M/s. Smartowner Services India Pvt. Ltd. concerning the disallowance of brokerage and legal expenses for the 2013-14 assessment year. The Assessing Officer (AO) disallowed expenses of Rs. 53,52,643/- and Rs. 21,08,384/- due to a lack of detailed documentation. The CIT(A) upheld this decision, leading the assessee to appeal to the ITAT. The assessee argued that their business model was transparent, transactions were online, and TDS was deducted, but not all requested documents could be provided to the AO. They presented additional evidence to the ITAT and requested the case be returned to the AO for a fresh review.

Court :
ITAT Bangalore

Brief :
The assessee has filed this appeal challenging the order dated 23.10.2017 passed by Ld. CIT(A)-6, Bengaluru and it relates to assessment year 2013-14. The assessee is aggrieved by the decision of Ld. CIT(A) in confirming the disallowance of Rs.53,52,643/- and Rs.21,08,384/- claimed by the assessee as expenses.

Citation :
ITA No.167/Bang/2018

Daily Limit Reached