Rishi F.L. On Shop vs Income Tax Officer

Parties Involved

Facts Summary

The assessee, Rishi F.L. On Shop, filed an appeal against the order of the Commissioner of Income Tax (Appeals) dated 27.06.2024, which was passed against the assessment order dated 23.04.2021. The assessee's return of income for the assessment year 2018-19 declared a total income of Rs.4,90,170/-. The case was selected for complete scrutiny under the CASS module on the issue of 'Income from liquor Business'. The assessee did not comply with the statutory notices issued under section 142(1) of the Income Tax Act, 1961. The assessment was framed under section 143(3) of the Act, and additions were made on account of the difference in turnover, partner's salary being debited twice in the ITR, and other expenses debited in the P/L account. The assessee appealed against the disallowance of Rs.2,28,043/- made by the Assessing Officer under the head 'other expenses'. The Tribunal partly allowed the appeal, allowing a deduction of Rs. 40,811/- and upholding the disallowance of Rs. 1,87,232/-.…

Legal Issues

• 1. Disallowance of Rs. 2,28,043/- made by the Assessing Officer under the head 'other expenses'.
• 2. The assessee's claim of expenditure under 'other expenses'.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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