Expense cannot be disallowed merely based on Tax Audit Report

Kalpesh Synthetics Pvt Ltd Vs DCIT (ITAT Mumbai) Grievance of the assessee, as requiring our adjudication in this appeal, is that the learned CIT(A) was not justified in upholding the adjustment, made by the Centralized Processing Centre Bengaluru while processing income tax returns under section 143(1) based on certain inputs from the tax audit reports of the assessee in question, in respect of the disallowance of Rs 4,24,634 on account of delay in making the payment towards the employees’ contribution for the provident fund, under section 36(1)(va) r.w.s. 2(24)(x) of the Act, particularly ...