Non-Submission of Business Vouchers – ITAT restrict disallowance to 5%

Garve Motors Private Limited Vs DCIT (ITAT Pune) The recent judgement of Garve Motors Private Limited Vs DCIT passed by the Income Tax Appellate Tribunal (ITAT), Pune, brings forth the critical issue of disallowance due to non-submission of business vouchers. This case opens a dialogue around the implications of lack of evidential support for business expenses, with ITAT directing a re-adjudication. The case revolves around the contention raised by Garve Motors Private Limited, an authorised dealer of Hyundai Cars, against a disallowance made by the Assessing Officer (AO) based on the non-subm...