Case Law Details
Giri Buildwell Pvt. Ltd. Vs DCIT (ITAT Delhi)
Introduction: The Income Tax Appellate Tribunal (ITAT) in Delhi recently delivered a significant ruling concerning the disallowance of business expenses under Section 37 of the Income Tax Act. In the case of Giri Buildwell Pvt. Ltd. vs. DCIT, the ITAT challenged the arbitrary disallowance made by the Assessing Officer (AO) and upheld by the Commissioner of Income Tax (Appeals) (CIT(A)).
Background of the Case
Giri Buildwell Pvt. Ltd. had filed its income tax return with a declared income of Rs. 41,95,030. However, the Assessing Officer (AO) completed the assessment with a total income of Rs. 58,09,620. This assessment involved two significant additions:
1. Alleged addition on account of disallowing business expenses: Rs. 14,10,163
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