ITAT Deletes 10% Expense Disallowance as No Specific Defects Found in Audited Books

Anupam Industries Ltd. Vs ACIT (ITAT Ahmedabad) Ad Hoc Expense Addition Quashed as AO Failed to Reject Books Under Section 145(3); ITAT Remands Warranty Provision Claim Because Reversal Pattern Required Verification; Delayed PF Deposits Disallowed Because Employee Contributions Missed Statutory Due Dates; CENVAT Duty Deduction Allowed Because Only Penal Component Is Disallowable. The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) adjudicated cross appeals involving multiple assessment years concerning additions, disallowances, and the allowability of various expenditures claimed b...