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Disallowance of Rs. 2.97 Crore as Bogus Expenditure u/s 69C: ITAT Upholds 10% Disallowance

Update / Judgement Date

11 Mar 2025

Source

Taxscan

Author

Team — WCP Legal Desk

Reading Time

1 min read

Income TaxOther Legal Matters

The ITAT has upheld a 10% disallowance of ₹2.97 crore, treating it as bogus expenditure under Section 69C. The tribunal emphasized the need for proper documentation and evidence. This decision reinforces the importance of compliance with tax regulations. The ruling clarifies the treatment of unexplained expenditures. This is regarding tax law.