Voluntary Disallowance of Expense u/s 40 (a) (ia) not a base to treat Taxpayer as ‘Assessee in Default’: ITAT [Read Order]

The Tribunal viewed that the assessee cannot be treated as an 'assessee in default' for mere book entries passed within the meaning of section 201(1) of the Act

By Yogitha S. Yogesh - On February 16, 2024 4:02 pm - 3 mins read

ITAT - ITAT Delhi - Disallowance of Expense - Voluntary Disallowance of Expense - TAXSCAN

The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) has held that voluntary disallowance of an expense under section 40 (a) (ia) of the Income Tax Act, 1962 is not a base to treat a taxpayer as ‘assessee in default’. Artemis Medicares Services Ltd, the respondent assessee company is engaged in the…

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Topics

CIT(A)ITAT Delhi judicial member anubhav sharma Section 40 (a) (ia) of the Income Tax Act