Personal use of expense incurred cannot be attributed without Sufficient Proof

Galgotia Publication (P) Ltd. Vs ACIT (ITAT Delhi) The present assessee before us is a company and is an entity recognised by law, as a legal person, that exist in eyes of law independently with rights and liabilities. Thus no element of personal expenses by the Directors/Office bearers can be attributed, without, there being sufficient evidence in support. Admittedly, Ld.AO neither pointed out any instance of inflation in expenditure claimed by assessee, nor has given any finding regarding expenditure claimed by assessee being capital in nature, for purposes of disallowance. It is further obs...