Disallowance of contractual expenditure relying on surrounding search allegations without specific contrary material is unsustainable.
Disallowance of contractual expenditure relying on surrounding search allegations without specific contrary material is unsustainable. Issue Whether disallowance of contractual expenses under Section 37(1) is justified on the basis of broader group search allegations, non-response to Section 133(6) notices by contractors, and lack of muster rolls, despite the assessee furnishing invoices, bank-channel payments, contractor ledgers,… Read More »