Expenditure Cannot Be Disallowed Solely for Non-Response to Notices U/s 133(6); Matters Remanded for Proper Verification

E2E Supply Chain Solutions Limited Vs ACIT (ITAT Chennai) Expenditure Cannot Be Disallowed Solely for Non-Response to Notices u/s 133(6); Matters Remanded for Proper Verification The assessee, a logistics and supply chain company engaged in transportation, stevedoring and warehousing services, reported turnover of about ₹43.31 crore for AY 2013-14. During assessment, the AO disallowed substantial expenditure aggregating to ₹40.66 crore, including ₹35.51 crore towards freight and allied expenses alleging that certain transporters were fictitious, and ₹5.12 crore u/s 40A(3) on account of...