Tribunal held that when no incriminating material was found in the course of search ad-hoc disallowance of 50% of expenditure is unsustainable. Additional claim not filed in revised return or revised profit and loss account, Commissioner (Appeals) can direct Assessing Officer to take into consideration. (AY. 2008-09)
ACIT v. Arvind Srinivasan (2021) 86 ITR 84 (Chennai)(Trib.)
S. 153A : Assessment-Search-No incriminating material was found-Ad-hoc disallowance of 50 % of expenditure is unsustainable-Addition claim which was made before the CIT (A), order of CIT (A) directing the AO to consider the said claim is held to be valid. [S. 250]