Disallowance of expenses on adhoc basis without finding any personal use by chairman of trust, not sustainable

Brief of the Case ITAT Chandigarh held In the case of DCIT vs. M/s Indo Soviet Friendship that the Assessing Officer has not brought any material on record as to how he has given his finding that the cars have been purchased for the benefit of the Chairman. The Assessing Officer was also not justified in holding that the assessee trust has no requirement to maintain luxury car. The expenses should be considered from the point of view of the assessee and not for the point of view of the Assessing Officer. In the absence of any material brought on record against the assessee, the order of the As...