Loan syndication fees not allowable if no proof of services rendered submitted by Assessee

Finquest Financial Solutions Pvt. Ltd. Vs DCIT (ITAT Mumbai) During the course of assessment the assessing officer observed that assessee has debited an amount of Rs.15,00,000/- to the profit & loss account under the head loan syndication fees claimed to be paid to M/s Moncon Exports Pvt. Ltd, and M/s Niyoshi Trading and Investment P. ltd. During the course of appellate proceedings before us the ld. Counsel has placed the detail of loan syndication fees as per page no. 21 to 23 of the paper book. After perusal of the same it is noticed that assessee has filed only the debit note pertaining...