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Disallowance of expense

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Querist : Anonymous

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Querist : Anonymous (Querist)
15 December 2018 What is the effect of disallowance of expense in a loss return
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Z

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Z (Expert)
16 December 2018 The loss will decrease to the extent of disallowance of the expense and may even turn into profit due to a higher amount of disallowance.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
16 December 2018 Penalty can be initiated per 271(1)(c) explanation 4(b).
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