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| The Tax Publishers2020 TaxPub(DT) 0623 (Ahd-Trib) INCOME TAX ACT, 1961
Section 37(1)
Assessee has produced bills in respect of most of the discrepancies and also there was tremendous jump in gross profit in the year accordingly, it was reasonable to restrict disallowance to the extent of 12.5% of labour expenses to meet the end of justice for want of verification on account of not providing proper supporting bill/vouchers.
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Business expenditure - Labour expenses - various discrepancies in supporting evidences - Tremendous jump in gross profit
Assessee claimed deduction of labour expenses. AO pointed by various discrepancies in supporting evidences furnished by assessee and accordingly, disallowed 50% of labour expenses. Held: Assessee has produced bills in respect of most of the discrepancies and also there was tremendous jump in gross profit in the year accordingly, it was reasonable to restrict disallowance to the extent of 12.5% of labour expenses to meet the end of justice for want of verification on account of not providing proper supporting bill/vouchers.
REFERRED :
FAVOUR : Partly in assessee's favour.
A.Y. : 2011-12
INCOME TAX ACT, 1961
Section 37(1)
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