Company not opted for liquidation in impugned year hence disallowance of expense unjustified

Annapurna Polymers Pvt. Ltd. Vs DCIT (ITAT Ahmedabad) ITAT Ahmedabad held that disallowance of expenditure in the assessment year 2012 on the reason that company went into voluntary liquation is unsustainable as the company was not into liquidation in the impugned year. Facts- The solitary issue in the present appeal related to disallowance of expenses claimed by the assessee pertaining to municipal taxes paid amounting to Rs. 13,98,873/- and charges paid to security personnel amounting to Rs. 5,54,464/- which was disallowed on the ground that no business activity was carried out by the assess...