Expenses cannot be treated as bogus merely for accounting subsequent to date of search

Shri Mehul Prakash Mehta Vs DCIT (ITAT Mumbai) ITAT Mumbai held that expenses booked upto the date of survey cannot be treated as bogus only for the reason that the expenses were accounted in the books of account subsequent to the date of search. Facts- On perusal of cash book, AO noticed that the assessee had claimed Rs.19,35,558/- as expenses pertaining to the period upto the date of survey which were not recorded in the cash book found during the course of survey and the same have been booked and thereafter in the cash book produced during the assessment proceedings. The assessee submitted ...