ITAT Upholds Deletion of Disallowance made by AO on ground of Incurred Expenditure as Revenue Expenditure of Business [Read Order]

ITAT - Deletion - Disallowance - AO – Incurred - Expenditure - Revenue - Expenditure – Business - TAXSCAN

The New Delhi bench of the Income Tax Appellate Tribunal (ITAT) upheld the deletion of disallowance made by the assessing officer on the ground of incurred expenses as the revenue expenditure of the business of the assessee.  Capricorn Identity Services P. Ltd, the respondent-assessee was a private company and filed the return of income for…

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