Unilateral claim based on internally generated documents without any independent evidence cannot be allowed as business expenditure

Advertisement Brief of the case: The ITAT Delhi in the case of DCIT vs. M/s Leroy Somer & Controls held that the internally generated documents by company without confirmation of the same by the other party are not sufficient to make a claim of discount. Therefore, unilateral claims without any independent evidence cannot be allowed as business expenditure. Facts of the case: The assessee company is engaged in the business of manufacturing of electronics goods claimed exemption u/s 80IB. It filed return of income declaring an income of Rs.63,77,436/- which was later on picked up for ...