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Expense having no nexus with Income from other sources cannot be allowed
Case Law Details
- Case Name
- Nirav Dilipkumar Desai Vs ITO (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2015-16
- Courts
- All ITAT, ITAT Ahmedabad
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Nirav Dilipkumar Desai Vs ITO (ITAT Ahmedabad)
The Assessing Officer observed that the assessee has shown Rs. 11,86,798/- under the head “income from other sources” and in the schedule of other sources. The assessee has shown Rs. 41,15,221/- and claimed expenses of Rs. 29,28,423/-. The Assessing Officer further observed that the expenses claimed has no nexus with the income from offered and therefore, made addition of Rs. 29,28,423/- which was claimed under Section 57(iii) of the Act by the assessee.
It is pertinent to note that as regards addition ground raised by the assessee the Circula...
