When nither proof in support of claim can be requisitioned nor expenditure can be judged it is not possible ti interfere with the finding of the CIT
Court :
INCOME TAX APPELLATE TRIBUNAL
Brief :
Capital expenditure debited to P&L account: In the Tax Audit Report, the auditor has identified the amount as capital expenditure. The details of the same have been furnished in the Annexure 1 to the Audit Report. Accordingly, the same was clearly disallowable u/s 37(1) of the Income-tax Act. Since the items constituting the said amount have not been shown as bad debts, as claimed by you in the application, there was no occasion to consider the same as such within the scope of the provision of section 143(1)(a) of the Act
Citation :
Assistant CIT, Central Ci rcle- 6, Room no.334, ARA Centre,Jhandewalan Extension, New Delhi (Appellant)Vs. M/s Sahara India Financial Corporation Ltd. , 1, Kapoorthala Complex, Aliganj,Lucknow (U.P.) [PAN: 19-222-CN-1280] (Respondent)
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CS Bijoy
Published in Income Tax
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