Mere allegations insufficient to disallow section 35-AC deduction: ITAT Mumbai

Ravindra K. Reshamwala Vs ITO (ITAT Mumbai)

The Income Tax Appellate Tribunal (ITAT) Mumbai, in the case of Ravindra K. Reshamwala Vs Income Tax Officer (ITO), has delivered a significant judgment on the disallowance of deductions under Section 35-AC of the Income Tax Act, 1961. This case underlines the criticality of substantial evidence over mere allegations in the context of tax deductions.

Detailed Analysis

The appellant, Ravindra K.

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