Section 37(1) Business Expenditure Cannot Be Disallowed Without Adverse Findings: ITAT Jodhpur

Svaraj Trading and Agencies Ltd Vs ACIT (ITAT Jodhpur) The ITAT Jodhpur disposed of a batch of appeals involving multiple assessees concerning disallowance of business expenditure under Section 37(1) of the Income Tax Act, 1961 on identical facts. The Tribunal noted that all the appeals raised the same issue relating to disallowance of routine business and administrative expenses and, therefore, were heard together and decided through a consolidated order by following an earlier decision of the Coordinate Jodhpur Bench on identical facts. For the purpose of discussion, the Tribunal treated the...