HomeDirect TaxDisallowance Of Expenditure Doesn’t Constitute “Income Represented In The Form Of An...

Disallowance Of Expenditure Doesn’t Constitute “Income Represented In The Form Of An Asset: ITAT

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The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that disallowance of expenditure does not constitute “income represented in the form of an asset,” as required under Section 149(1)(b) of the Income Tax Act. The bench of Sudhir Kumar (Judicial Member) and M. Balaganesh (Accountant Member) has observed that the provisions of Section…

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Amit Sharma
Amit Sharma
Amit Sharma is the Content Editor at JurisHour. He has been writing about the Indian legal market. He has covered tax & company litigation stories from the Supreme Court, High Courts and Various Tribunals. Amit graduated from MLSU Law College with B.A.LL.B. and also holds an LL.M. from MLSU, Udaipur, Rajasthan. An Advocate in Taxation, and practised in Tribunals as well as Rajasthan High Court and pursued Masters in Constitutional Law. He started out small with little resources but a big plan to take tax legal education to the remotest locations across India and eventually to the world. His vision is to make tax related legal developments accessible to the masses.

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