In the course of survey the partner of the firm offered additional income. The assessee has debited expenditure in respect of professional fees paid to the professional. The Assessing Officer disallowed the expenditure which was affirmed by the CIT(A). On appeal the Tribunal held that the disallowance of professional fees was held to be not justified. (dt. 26-7-2021) (AY. 2013-14)
Anjani Infra v. DCIT (2021) BCAJ-October-P. 54 (Surat)(Trib.)
S. 115BBE : Tax on specified income-Survey-Builder-Housing project-On money-Income offered-Assessed as deemed income-Professional fees paid was allowed as deduction. [S. 68, 37(1)]