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ITAT Bangalore Deletes Bonus Disallowance, Penalty as CIT(A) Ignored Evidence
Case Law Details
- Case Name
- Bhuvaneshwari Enterprises Vs ITO (ITAT Bangalore)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2018-19
- Courts
- All ITAT, ITAT Bangalore
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Bhuvaneshwari Enterprises Vs ITO (ITAT Bangalore)
Bangalore ITAT Deletes Bonus Disallowance and Consequential Penalty; CIT(A) Faulted for Ignoring Additional Evidence
The Bangalore ITAT in Shri Bhuvaneshwari Enterprises v. ITO deleted the disallowance of ₹2.64 lakh bonus paid to employees and consequently quashed the penalty of ₹1.63 lakh levied for alleged misreporting of income. The assessee, a liquor business partnership firm, had claimed bonus expenditure which was disallowed by the Assessing Officer because the amount was not reflected in the salary ledger produced du...
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