No necessity to show expenses separately in the profit & loss account, when the expense is netted off against the relevant income

Last updated: 13 October 2020
Quick Summary
This Income Tax Appellate Tribunal case concerns whether businesses must separately disclose expenses in their profit and loss accounts if those expenses have already been offset against relevant income. The assessee appealed a decision confirming additions related to mall shopping festival expenses and parking fees paid to a landlord.

Court :
ITAT Bangalore

Brief :
The assessee has filed this appeal challenging the order dated 1.3.2018 passed by Ld. CIT(A), Bengaluru and it relates to assessment year 2014-15.

Citation :
ITA No.1689/Bang/2018

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