No Bank Entry or Form 26AS: Professional Fee Claim Rejected

Tooltech Global Engineering Pvt. Ltd. Vs ITO (ITAT Pune) Professional Fees Disallowed for Lack of Evidence: ITAT Pune Upholds ₹6 Lakh Disallowance The Pune SMC Bench of the ITAT dismissed the assessee company’s appeal for AY 2017-18, upholding the disallowance of ₹6 lakh claimed as professional fees under section 37(1). The Tribunal held that the assessee failed to prove that the expenditure was actually incurred and wholly and exclusively for business purposes. The disallowance was sustained on multiple factual deficiencies: The recipient (a director of the assessee company) did not of...