Capital Expenditure in Tax Audit Report: ITAT sets aside Claim of Deduction of Expenditure on Masala Grinder and Toaster [Read Order]
ITAT has rejected the claim for the deduction of expenditure on a masala grinder and toaster, as reported under capital expenditure in the tax audited report
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has rejected the claim for the deduction of expenditure on a masala grinder and toaster, as reported under capital expenditure in the tax audited report. The AO observed that the taxpayer had spent a total of Rs. 48,845 on a Masala Grinder and toaster. The…
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