Expenses Must Be Proven: ITAT Confirms Disallowance on Estimate Basis

Mudubhagilu Krishna Murthy Divakar Vs ITO (ITAT Bangalore) No Records, No Relief – Expenses Must Be Proven – Tribunal Confirms Disallowance on Estimate Basis- Agricultural Income Inflated, Expenses Unproved –Bang  ITAT Dismisses Appeal Bangalore ITAT examined addition made on account of understatement of agricultural expenditure. Assessee filed his return on 30.10.2018 declaring total income of ₹14.73 lakh & agricultural income of ₹75.82 lakh. On scrutiny, AO observed that agricultural expenditure claimed was substantially lower compared to earlier years, though agricultural tur...