Comparative Analysis Alone Cannot Justify Expense Disallowance: ITAT Mumbai

Maiden Marketing India Pvt. Ltd. Vs ITO (ITAT Mumbai) ITAT Deletes Expense Disallowance Due to Absence of Defects in Supporting Evidence; ITAT Deletes ₹25.48 Lakh Additions Made on Ad Hoc Estimation of Business Expenses; Post-COVID Increase in Business Expenses Accepted by ITAT After Assessee Furnished Evidence; ITAT Rules Ad Hoc Expense Additions Unsustainable Without Finding Expenses Non-Genuine. The appeal before the ITAT Mumbai arose from an order passed by the National Faceless Appeal Centre confirming disallowances made under Section 143(3) read with Section 144B of the Income Tax Act ...