Adhoc disallowance of expense without contrary material not justifiable: ITAT Delhi

HMD Mobile India Pvt. Limited Vs ACIT (ITAT Delhi) ITAT Delhi held that disallowance of expenditure on adhoc basis without contrary material and without rejection of books of accounts not justifiable. Accordingly, disallowance made in the impugned order deleted. Facts- Vide the present appeal, the appellant has mainly pressed disallowance of Rs. 44,25,00,000/- @25% various expenses. Notably, AO proposed the disallowance of Rs.44,25,00,000/- in the body of the draft assessment order. However, inadvertently, he mentioned the disallowance of Rs.3,00,00,000/- in the computation of income. Conclusi...