ITAT Sustains 50% Disallowance as Taxpayer Failed to Prove Business Utility of Consultancy Fees

Enquest Petro Solutions Private Limited Vs Assessing Officer (ITAT Delhi) Form 26AS Addition Deleted Because Same Consultancy Income Cannot Be Taxed Twice: ITAT; Property Transfer Expenses Allowed Under Capital Gains Because They Were Not Business Expenses: ITAT; ITAT Grants Partial Relief Because Consultancy Income Reconciliation Explained Form 26AS Mismatch; Professional Fees Claim Partly Disallowed Because Evidence of Business Benefit Was Insufficient: ITAT. The Income Tax Appellate Tribunal (ITAT), Delhi, considered the assessee’s appeal against the order of the Commissioner ...