ITAT directed AO to disallow 10% of land development exp. as assessee failed to prove its genuineness

INCOME TAX : Where assessee failed to establish that land development expenses claimed by it were genuine as most of vouchers produced by it were self-made and also not in proper order for verification, Assessing Officer was to be directed to disallow 10 per cent of total expenditure claimed by assesseeINCOME TAX : Where assessee failed to establish that land development expenses claimed by it were genuine as most of vouchers produced by it were self-made and also not in proper order for verification, Assessing Officer was to be directed to disallow 10 per cent of total expenditure claimed by assesseewww.taxmann.com Latest Case LawsRead More

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