kishore ghiya (managing director) (32 Points)
30 June 2010when return is filed by an individual along with the tax audit report, can AO ignore and disallow some business expenses, can he ignore the audit report, then to what extent he should abide and agree with the audit report.Iany case laws at tribunal level or any articles on this subject.
kishore ghiya rajkot 9825217857
sagar
(CA Final)
(379 Points)
Replied 30 June 2010
yes assessing officer can disallow some expenses but he has to give reason for the same.
he can not ignore audit report but he can initiate investigation on sufficient ground
V.Ganapathy Subramanian
(Dy Manager Accounts)
(62 Points)
Replied 30 June 2010
The AO can't ignore the Audit Report, in the same time he can disallow any expenses with reasonable reounds. There is no ruels AO Can't disallow any expenditure, if audit report is submitted.
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
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