This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Adhoc Disallowance on Surmises Without Rejecting Books is unsustainable
Case Law Details
- Case Name
- ACIT Vs Merchant Agri Global Private Limited (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
- Courts
- All ITAT, ITAT Mumbai
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
ACIT Vs Merchant Agri Global Private Limited (ITAT Mumbai)
The case of ACIT Vs Merchant Agri Global Private Limited was brought before the Mumbai ITAT. The appellant sought to overturn the order passed by the CIT(A) regarding the adhoc disallowance of expenses without rejecting the books of account.
The appellant, Merchant Agri Global Private Limited, declared a total income of Rs. 3,22,87,840 for the assessment year 2017-18. However, during scrutiny, the Assessing Officer (AO) observed discrepancies in the claimed direct expenses amounting to Rs. 78,55,48,913. Despite explanations from the as...
